1,422,225 Shares in The Travelers Companies, Inc. $TRV Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.42 million Travelers shares worth approximately $469.5 million in the second quarter, giving it a 0.68% stake. Institutional investors collectively own 82.45% of the insurer.
• Travelers reported quarterly EPS of $10.04, beating estimates of $5.41, while revenue reached $12.15 billion versus the $11.26 billion consensus forecast.
• Analysts maintain a consensus “Hold” rating with a $354.26 price target, while Travelers announced a $1.25 quarterly dividend, equivalent to a 1.4% yield.

Bank of New York Mellon Corp purchased a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,422,225 shares of the insurance provider's stock, valued at approximately $469,505,000. Bank of New York Mellon Corp owned 0.68% of Travelers Companies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRV. Focus Partners Advisor Solutions LLC bought a new position in shares of Travelers Companies during the 2nd quarter worth about $3,143,000. State of Wyoming bought a new stake in Travelers Companies in the 2nd quarter valued at about $720,000. Sutton Place Investors LLC acquired a new position in Travelers Companies during the 2nd quarter worth approximately $221,000. GSA Capital Partners LLP acquired a new position in Travelers Companies during the 2nd quarter worth approximately $928,000. Finally, Avalon Trust Co bought a new position in Travelers Companies in the second quarter worth approximately $2,883,000. 82.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRV has been the subject of several research reports. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $356.00 price target (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. HSBC raised their price objective on shares of Travelers Companies from $321.00 to $351.00 and gave the company a "hold" rating in a research note on Monday, July 6th. BMO Capital Markets cut shares of Travelers Companies from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $314.00 to $379.00 in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Finally, Raymond James Financial set a $430.00 target price on shares of Travelers Companies in a report on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of "Hold" and a consensus price target of $354.26.

Travelers Companies Stock Down 0.2%

TRV opened at $363.83 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The stock has a market cap of $75.88 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.46 and a beta of 0.45. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The company's 50-day moving average price is $352.28 and its two-hundred day moving average price is $318.12.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $6.51 EPS. As a group, equities analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies's dividend payout ratio is 13.39%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $387.00, for a total value of $2,768,211.00. Following the sale, the executive vice president directly owned 68,834 shares in the company, valued at $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Donnay Rowland sold 5,000 shares of the company's stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the transaction, the executive vice president directly owned 10,479 shares in the company, valued at $3,894,939.51. This represents a 32.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 62,667 shares of company stock valued at $22,688,329. Company insiders own 1.39% of the company's stock.

Travelers Companies Profile

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV - Free Report).

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