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

Bank of New York Mellon Corp cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,767,334 shares of the insurance provider’s stock after selling 228,836 shares during the quarter. Bank of New York Mellon Corp owned about 0.78% of Travelers Companies worth $425,733,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TRV. J.W. Cole Advisors Inc. raised its holdings in Travelers Companies by 4.9% in the third quarter. J.W. Cole Advisors Inc. now owns 4,944 shares of the insurance provider’s stock worth $1,157,000 after buying an additional 229 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Travelers Companies during the third quarter valued at approximately $366,000. abrdn plc raised its holdings in Travelers Companies by 2.6% in the 3rd quarter. abrdn plc now owns 378,304 shares of the insurance provider’s stock worth $88,671,000 after acquiring an additional 9,726 shares during the last quarter. Valmark Advisers Inc. bought a new position in Travelers Companies in the 3rd quarter valued at approximately $209,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Travelers Companies during the 3rd quarter valued at $259,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRV shares. The Goldman Sachs Group upgraded Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price target for the company in a research note on Wednesday, January 8th. StockNews.com lowered Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Piper Sandler upgraded shares of Travelers Companies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $259.00 to $310.00 in a research note on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Travelers Companies from $213.00 to $225.00 and gave the stock an “underweight” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets increased their price objective on shares of Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $261.05.

Travelers Companies Price Performance

NYSE TRV opened at $248.61 on Thursday. The business’s fifty day moving average is $242.50 and its 200 day moving average is $242.55. The Travelers Companies, Inc. has a fifty-two week low of $200.21 and a fifty-two week high of $269.55. 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 company has a market capitalization 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 posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.65. The firm had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $7.01 EPS. Sell-side analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

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

About Travelers Companies

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.