M&T Bank Corp Reduces Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

M&T Bank Corp lowered its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,937 shares of the insurance provider’s stock after selling 5,195 shares during the quarter. M&T Bank Corp’s holdings in Travelers Companies were worth $21,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Clearbridge Investments LLC raised its position in Travelers Companies by 15.8% in the third quarter. Clearbridge Investments LLC now owns 4,575,759 shares of the insurance provider’s stock worth $747,267,000 after acquiring an additional 623,974 shares during the period. Northern Trust Corp raised its holdings in Travelers Companies by 0.9% in the 3rd quarter. Northern Trust Corp now owns 3,431,825 shares of the insurance provider’s stock worth $560,451,000 after purchasing an additional 29,989 shares during the period. Bank of New York Mellon Corp lifted its position in Travelers Companies by 4.3% during the third quarter. Bank of New York Mellon Corp now owns 2,285,751 shares of the insurance provider’s stock valued at $373,286,000 after purchasing an additional 95,153 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Travelers Companies by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,810 shares of the insurance provider’s stock valued at $227,950,000 after purchasing an additional 5,584 shares during the period. Finally, Hsbc Holdings PLC increased its position in Travelers Companies by 7.2% in the third quarter. Hsbc Holdings PLC now owns 989,962 shares of the insurance provider’s stock worth $162,157,000 after buying an additional 66,508 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $240.00 price objective on shares of Travelers Companies in a research note on Thursday, April 18th. Piper Sandler reissued a “neutral” rating and issued a $213.00 price objective on shares of Travelers Companies in a research note on Monday, April 1st. Jefferies Financial Group lowered their target price on shares of Travelers Companies from $222.00 to $219.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Morgan Stanley increased their price target on Travelers Companies from $222.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on Travelers Companies from $241.00 to $231.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus price target of $223.47.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $213.96, for a total transaction of $2,139,600.00. Following the transaction, the executive vice president now owns 22,798 shares in the company, valued at $4,877,860.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $213.96, for a total value of $2,139,600.00. Following the completion of the sale, the executive vice president now owns 22,798 shares of the company’s stock, valued at $4,877,860.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel S. Frey sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $212.90, for a total value of $1,064,500.00. Following the transaction, the chief financial officer now directly owns 18,515 shares in the company, valued at approximately $3,941,843.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,635 shares of company stock worth $12,057,727. Company insiders own 1.33% of the company’s stock.

Travelers Companies Price Performance

Travelers Companies stock traded down $0.52 during mid-day trading on Friday, reaching $213.85. 1,298,445 shares of the company’s stock traded hands, compared to its average volume of 1,525,222. The Travelers Companies, Inc. has a 12-month low of $157.33 and a 12-month high of $232.75. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $220.82 and a two-hundred day moving average of $200.14. The company has a market cap of $48.97 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.12 and a beta of 0.60.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Travelers Companies had a net margin of 7.32% and a return on equity of 13.94%. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.62 billion. During the same period in the previous year, the business posted $4.11 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. Equities analysts forecast that The Travelers Companies, Inc. will post 17.71 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.20 annualized dividend and a dividend yield of 1.96%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.00. Travelers Companies’s payout ratio is currently 31.20%.

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.