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

Key Points

• Bank of New York Mellon reduced its stake in Travelers Companies by 5.2% in the first quarter, though it still held about 1.49 million shares worth roughly $434.6 million.
• Travelers posted a strong quarterly beat, reporting $7.71 EPS versus $6.80 expected and $11.92 billion in revenue, while shares recently traded up 2.3% to $336.89.
• Sentiment around the stock is mixed: insiders have been selling shares, and analysts currently assign Travelers a consensus rating of “Hold” with an average price target of $329.11.

Bank of New York Mellon Corp trimmed its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,490,093 shares of the insurance provider's stock after selling 82,346 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of Travelers Companies worth $434,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TRV. HHM Wealth Advisors LLC lifted its holdings in shares of Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after purchasing an additional 51 shares during the period. Whipplewood Advisors LLC acquired a new position in Travelers Companies in the 1st quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new position in Travelers Companies during the 4th quarter worth $26,000. Osterweis Capital Management Inc. raised its position in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after buying an additional 91 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Travelers Companies in the 4th quarter worth $28,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Trading Up 2.3%

Shares of TRV opened at $336.89 on Friday. The Travelers Companies, Inc. has a twelve month low of $251.30 and a twelve month high of $349.35. 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 firm has a market capitalization of $71.64 billion, a P/E ratio of 10.02, a PEG ratio of 2.94 and a beta of 0.46. The firm's 50-day moving average is $312.92 and its two-hundred day moving average is $301.03.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. On average, research analysts predict that The Travelers Companies, Inc. will post 28.31 earnings per share for the current fiscal year.

Insider Transactions at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,882,706.25. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Diane Kurtzman sold 2,867 shares of the business's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president owned 5,298 shares in the company, valued at approximately $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,573 shares of company stock worth $11,504,146 over the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TRV shares. Roth Capital reiterated a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Barclays downgraded shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $331.00 to $295.00 in a research report on Friday, June 12th. Truist Financial began coverage on Travelers Companies in a report on Friday, July 10th. They issued a "buy" rating and a $395.00 price objective on the stock. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $316.00 to $322.00 in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $356.00 target price (up from $342.00) on shares of Travelers Companies in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $329.11.

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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