Bank of New York Mellon Corp Sells 228,836 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Bank of New York Mellon Corp lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 11.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,767,334 shares of the insurance provider’s stock after selling 228,836 shares during the period. Bank of New York Mellon Corp’s holdings in Travelers Companies were worth $425,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TRV. Elevate Capital Advisors LLC purchased a new position in Travelers Companies during the 4th quarter valued at approximately $4,627,000. Franklin Resources Inc. boosted its position in shares of Travelers Companies by 39.5% during the 3rd quarter. Franklin Resources Inc. now owns 135,957 shares of the insurance provider’s stock valued at $32,646,000 after acquiring an additional 38,515 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Travelers Companies by 34.6% in the third quarter. Orion Portfolio Solutions LLC now owns 18,144 shares of the insurance provider’s stock valued at $4,248,000 after purchasing an additional 4,665 shares in the last quarter. Czech National Bank grew its holdings in shares of Travelers Companies by 6.0% in the fourth quarter. Czech National Bank now owns 49,223 shares of the insurance provider’s stock valued at $11,857,000 after purchasing an additional 2,792 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Travelers Companies in the third quarter worth $50,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Travelers Companies from $213.00 to $225.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $268.00 price target (down previously from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. The Goldman Sachs Group raised Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price objective on the stock in a research note on Wednesday, January 8th. Janney Montgomery Scott lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 price objective for the company. in a research note on Thursday, November 21st. Finally, BMO Capital Markets boosted their target price on Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $261.05.

Travelers Companies Stock Performance

Shares of NYSE:TRV opened at $248.61 on Thursday. The firm’s 50 day simple moving average is $242.50 and its 200-day simple moving average is $242.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33. The Travelers Companies, Inc. has a one year low of $200.21 and a one year high of $269.55. The firm has a market cap of $56.37 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 4.65 and a beta of 0.64.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, topping the consensus estimate of $6.50 by $2.65. The company had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $10.80 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. Travelers Companies’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $7.01 EPS. As a group, equities analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $1.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.69%. Travelers Companies’s payout ratio is currently 19.56%.

Travelers Companies Company 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.