Bank of New York Mellon Corp Reduces Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• Bank of New York Mellon reduced its Travelers Companies stake by 1.7% in the fourth quarter, though it still held 1,572,439 shares valued at about $456.1 million.
• Travelers reported strong quarterly results, with EPS of $7.71 beating estimates by $0.91 and revenue of $11.92 billion topping expectations, even as revenue slipped 1.7% year over year.
• The company raised its quarterly dividend to $1.25 per share from $1.10, while analysts currently rate the stock a consensus "Hold" with an average price target of $311.47.

Bank of New York Mellon Corp cut its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,572,439 shares of the insurance provider's stock after selling 26,404 shares during the period. Bank of New York Mellon Corp owned approximately 0.70% of Travelers Companies worth $456,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC grew its position in Travelers Companies by 1.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,949 shares of the insurance provider's stock worth $541,000 after acquiring an additional 36 shares during the period. Greenleaf Trust grew its position in Travelers Companies by 0.4% in the fourth quarter. Greenleaf Trust now owns 10,036 shares of the insurance provider's stock worth $2,911,000 after acquiring an additional 37 shares during the period. Allegiance Financial Group Advisory Services LLC grew its position in Travelers Companies by 3.4% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 1,130 shares of the insurance provider's stock worth $328,000 after acquiring an additional 37 shares during the period. CYBER HORNET ETFs LLC grew its position in Travelers Companies by 6.0% in the fourth quarter. CYBER HORNET ETFs LLC now owns 656 shares of the insurance provider's stock worth $190,000 after acquiring an additional 37 shares during the period. Finally, Ibex Wealth Advisors grew its position in Travelers Companies by 1.4% in the third quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider's stock worth $807,000 after acquiring an additional 40 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the sale, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the sale, the executive vice president owned 45,125 shares in the company, valued at approximately $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by company insiders.

Travelers Companies Stock Down 0.6%

Shares of NYSE TRV opened at $289.98 on Thursday. The stock has a market cap of $61.66 billion, a P/E ratio of 8.63, a PEG ratio of 2.63 and a beta of 0.48. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12-month low of $249.19 and a 12-month high of $313.12. The business's fifty day simple moving average is $298.78 and its 200-day simple moving average is $293.89.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.91. The business had revenue of $11.92 billion for the quarter, compared to analysts' expectations of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.91 earnings per share. As a group, equities analysts predict that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Travelers Companies's payout ratio is 13.09%.

Analyst Ratings Changes

Several research analysts recently weighed in on TRV shares. Brean Capital started coverage on Travelers Companies in a research report on Thursday, March 12th. They issued a "neutral" rating for the company. Seaport Research Partners set a $322.00 price objective on Travelers Companies in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods increased their price objective on Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Roth Mkm restated a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $311.47.

About Travelers Companies

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.

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