Canandaigua National Bank & Trust Co. Takes $2.65 Million Position in The Travelers Companies, Inc. $TRV

Key Points

• Canandaigua National Bank & Trust acquired 8,034 Travelers Companies shares worth approximately $2.65 million, adding to broader institutional ownership that represents 82.45% of the stock.
• Travelers reported quarterly EPS of $10.04, far exceeding the $5.41 consensus estimate, while revenue reached $12.15 billion versus expectations of $11.26 billion.
• Shares traded at $377.74, near their 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $354.26; the company also declared a $1.25 quarterly dividend.

Canandaigua National Bank & Trust Co. acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,034 shares of the insurance provider's stock, valued at approximately $2,652,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spinnaker Trust boosted its position in shares of Travelers Companies by 1.7% in the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock worth $565,000 after purchasing an additional 33 shares during the period. Cim LLC lifted its stake in shares of Travelers Companies by 0.4% during the 4th quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock valued at $2,363,000 after buying an additional 34 shares in the last quarter. Avalon Trust Co boosted its holdings in Travelers Companies by 0.4% in the 1st quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock worth $2,562,000 after buying an additional 35 shares during the period. Haverford Trust Co boosted its holdings in Travelers Companies by 0.7% in the 4th quarter. Haverford Trust Co now owns 5,210 shares of the insurance provider's stock worth $1,511,000 after buying an additional 35 shares during the period. Finally, Sumitomo Life Insurance Co. increased its stake in Travelers Companies by 0.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 5,236 shares of the insurance provider's stock worth $1,519,000 after buying an additional 35 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Trading Up 1.0%

Shares of Travelers Companies stock opened at $377.74 on Wednesday. The firm has a market cap of $78.78 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 3.59 and a beta of 0.45. The business has a 50-day moving average price of $332.77 and a 200-day moving average price of $309.67. 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 Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data 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. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business had revenue of $12.15 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same period in the prior year, the firm earned $6.51 EPS. The company's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that The Travelers Companies, Inc. will post 33.47 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a yield of 1.3%. Travelers Companies's dividend payout ratio (DPR) is 13.39%.

Insiders Place Their Bets

In other news, EVP David Donnay Rowland sold 5,000 shares of Travelers Companies stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total value of $6,009,382.94. Following the transaction, the executive vice president directly owned 9,213 shares in the company, valued at approximately $3,393,884.94. This represents a 63.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 62,667 shares of company stock worth $22,688,329. Insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Roth Capital boosted their price objective on Travelers Companies from $345.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. UBS Group increased their target price on Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Barclays lifted their target price on Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Mizuho boosted their price target on Travelers Companies from $324.00 to $343.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a research note on Friday, May 8th. 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 issued a Sell rating to the company's stock. According to MarketBeat, Travelers Companies currently has an average rating of "Hold" and a consensus price target of $354.26.

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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