M&T Bank Corp Sells 1,607 Shares of The Travelers Companies, Inc. (NYSE:TRV)

M&T Bank Corp reduced its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.5% during the third quarter, HoldingsChannel.com reports. The fund owned 105,101 shares of the insurance provider’s stock after selling 1,607 shares during the quarter. M&T Bank Corp’s holdings in Travelers Companies were worth $24,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TRV. Y.D. More Investments Ltd bought a new stake in Travelers Companies during the second quarter worth $25,000. Wolff Wiese Magana LLC lifted its holdings in Travelers Companies by 39.1% during the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 45 shares during the period. True Wealth Design LLC bought a new stake in Travelers Companies during the third quarter worth $41,000. Catalyst Capital Advisors LLC bought a new stake in Travelers Companies during the third quarter worth $50,000. Finally, Salomon & Ludwin LLC lifted its holdings in Travelers Companies by 22.1% during the third quarter. Salomon & Ludwin LLC now owns 276 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 50 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRV has been the topic of several research reports. StockNews.com upgraded Travelers Companies from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America boosted their target price on Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their target price on Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $253.65.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $256.17, for a total value of $2,561,700.00. Following the completion of the transaction, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $5,840,163.66. This represents a 30.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total value of $781,650.00. Following the completion of the transaction, the insider now owns 250,384 shares of the company’s stock, valued at $65,237,551.20. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,149 shares of company stock worth $20,295,856. 1.33% of the stock is currently owned by corporate insiders.

Travelers Companies Price Performance

Travelers Companies stock opened at $247.68 on Wednesday. The Travelers Companies, Inc. has a 52 week low of $180.44 and a 52 week high of $269.55. The business has a 50-day simple moving average of $252.16 and a 200 day simple moving average of $229.59. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The stock has a market cap of $56.23 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.19 and a beta of 0.63.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The business had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, research analysts forecast that The Travelers Companies, Inc. will post 18.83 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s payout ratio is currently 21.54%.

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.