Canandaigua National Bank & Trust Co. Lowers Position in The Travelers Companies, Inc. (NYSE:TRV)

Canandaigua National Bank & Trust Co. cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 12.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,767 shares of the insurance provider's stock after selling 1,215 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Travelers Companies were worth $2,319,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRV. Ameritas Advisory Services LLC acquired a new stake in Travelers Companies in the 1st quarter worth about $204,000. Amalgamated Bank lifted its position in shares of Travelers Companies by 0.7% in the first quarter. Amalgamated Bank now owns 44,342 shares of the insurance provider's stock valued at $11,727,000 after acquiring an additional 317 shares in the last quarter. Citizens National Bank Trust Department boosted its stake in shares of Travelers Companies by 13.3% in the first quarter. Citizens National Bank Trust Department now owns 850 shares of the insurance provider's stock worth $225,000 after acquiring an additional 100 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in shares of Travelers Companies during the first quarter worth approximately $205,000. Finally, KBC Group NV increased its position in shares of Travelers Companies by 0.3% during the first quarter. KBC Group NV now owns 159,714 shares of the insurance provider's stock worth $42,238,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. HSBC cut Travelers Companies from a "buy" rating to a "hold" rating and set a $270.00 price target for the company. in a report on Monday, March 24th. JPMorgan Chase & Co. upped their target price on Travelers Companies from $260.00 to $271.00 and gave the company an "underweight" rating in a report on Tuesday, April 8th. Morgan Stanley set a $269.00 price target on Travelers Companies and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company boosted their price target on shares of Travelers Companies from $247.00 to $260.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Travelers Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Travelers Companies has a consensus rating of "Hold" and a consensus target price of $271.11.

Travelers Companies Stock Performance

Shares of TRV opened at $263.21 on Monday. The Travelers Companies, Inc. has a 1 year low of $200.40 and a 1 year high of $277.83. The stock has a market capitalization of $59.45 billion, a PE ratio of 14.33, a PEG ratio of 3.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a 50-day simple moving average of $267.30 and a 200-day simple moving average of $254.64.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $1.38. Travelers Companies had a net margin of 9.09% and a return on equity of 16.10%. The company had revenue of $10.52 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the previous year, the firm earned $4.69 earnings per share. On average, analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.10 per share. This is a boost from Travelers Companies's previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, June 10th. Travelers Companies's payout ratio is 23.95%.

Insider Buying and Selling

In other news, EVP Jeffrey P. Klenk sold 15,180 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $272.87, for a total value of $4,142,166.60. Following the completion of the transaction, the executive vice president now owns 6,075 shares in the company, valued at approximately $1,657,685.25. This represents a 71.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel S. Frey sold 20,286 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the completion of the sale, the chief financial officer now directly owns 26,932 shares of the company's stock, valued at approximately $7,365,363.36. This trade represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,869 shares of company stock worth $44,868,201. Corporate insiders own 1.46% of the company's stock.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

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