M&T Bank Corp Has $8.54 Million Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• M&T Bank Corp cut its stake in The Travelers Companies by 70.0% in Q4, selling 68,683 shares and leaving it with 29,431 shares valued at about $8.54 million.
• Travelers topped Q1 expectations with EPS of $7.71 (vs. $6.80 est.) and revenue of $11.92 billion, while reporting a 24.06% ROE and a 15.54% net margin.
• The board approved a $5.0 billion share buyback (roughly 8.3% of shares) and raised the quarterly dividend to $1.25 (annualized $5.00, yield ~1.7%).

M&T Bank Corp decreased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 70.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,431 shares of the insurance provider's stock after selling 68,683 shares during the quarter. M&T Bank Corp's holdings in Travelers Companies were worth $8,537,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TRV. Brighton Jones LLC lifted its holdings in Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock valued at $789,000 after purchasing an additional 387 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Travelers Companies during the 4th quarter valued at $276,000. WINTON GROUP Ltd acquired a new stake in Travelers Companies during the 2nd quarter valued at $382,000. CIBC Asset Management Inc lifted its holdings in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock valued at $18,336,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock valued at $28,254,000 after purchasing an additional 2,117 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Stock Down 1.5%

TRV opened at $302.74 on Friday. The Travelers Companies, Inc. has a fifty-two week low of $249.19 and a fifty-two week high of $313.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $64.38 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.79 and a beta of 0.51. The stock has a fifty day moving average of $300.14 and a 200-day moving average of $288.73.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter last year, the firm earned $1.91 earnings per share. The company's revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that The Travelers Companies, Inc. will post 27.83 EPS for the current year.

Travelers Companies declared that its Board of Directors has approved a share buyback program on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given 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 dividend on an annualized basis and a dividend yield of 1.7%. Travelers Companies's dividend payout ratio (DPR) is 13.09%.

Insider Buying and Selling

In related news, EVP Diane Kurtzman sold 2,867 shares of the firm'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 transaction, the executive vice president owned 5,298 shares in the company, valued at approximately $1,607,678.10. This trade represents a 35.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the transaction, the executive vice president owned 6,075 shares in the company, valued at $1,853,239.50. The trade was a 51.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,414 shares of company stock valued at $28,428,461 in the last ninety days. Insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRV. Argus raised Travelers Companies to a "strong-buy" rating in a report on Monday, January 26th. Wells Fargo & Company lifted their target price on Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. Cantor Fitzgerald lifted their target price on Travelers Companies from $316.00 to $319.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. The Goldman Sachs Group downgraded Travelers Companies from a "buy" rating to a "neutral" rating and set a $304.00 target price for the company. in a report on Wednesday, January 7th. Finally, Bank of America dropped their target price on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Travelers Companies presently has an average rating of "Hold" and a consensus price target of $309.13.

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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