Bank of Nova Scotia Has $28.47 Million Stake in The Travelers Companies, Inc. $TRV

Bank of Nova Scotia boosted its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,962 shares of the insurance provider’s stock after purchasing an additional 3,373 shares during the period. Bank of Nova Scotia’s holdings in Travelers Companies were worth $28,470,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Associated Banc Corp boosted its position in shares of Travelers Companies by 1.4% in the second quarter. Associated Banc Corp now owns 2,734 shares of the insurance provider’s stock worth $731,000 after buying an additional 39 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Travelers Companies by 1.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,093 shares of the insurance provider’s stock valued at $1,143,000 after buying an additional 40 shares during the period. Ibex Wealth Advisors lifted its stake in Travelers Companies by 1.4% in the 3rd quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider’s stock worth $807,000 after acquiring an additional 40 shares in the last quarter. Nilsine Partners LLC lifted its stake in Travelers Companies by 0.4% in the 3rd quarter. Nilsine Partners LLC now owns 9,737 shares of the insurance provider’s stock worth $2,719,000 after acquiring an additional 41 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Travelers Companies by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,109 shares of the insurance provider’s stock worth $1,367,000 after acquiring an additional 41 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Trading Up 0.7%

Shares of NYSE TRV opened at $304.53 on Tuesday. The business has a 50 day simple moving average of $292.36 and a 200 day simple moving average of $284.67. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $313.12. The stock has a market cap of $65.85 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 2.81 and a beta of 0.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, beating the consensus estimate of $8.34 by $2.79. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $9.15 earnings per share. On average, research analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 15.98%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the transaction, the executive vice president directly owned 33,638 shares of the company’s stock, valued at $10,131,092.84. This represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Maria Olivo sold 10,400 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $300.75, for a total value of $3,127,800.00. Following the transaction, the executive vice president owned 117,596 shares in the company, valued at approximately $35,366,997. This trade represents a 8.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 92,845 shares of company stock worth $27,239,631 in the last 90 days. 1.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TRV has been the topic of several research analyst reports. Mizuho lowered their target price on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Citigroup restated a “neutral” rating on shares of Travelers Companies in a report on Tuesday, January 27th. The Goldman Sachs Group downgraded shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price objective on the stock. in a research report on Wednesday, January 7th. Cantor Fitzgerald upped their price objective on shares of Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Barclays cut their target price on shares of Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average price target of $304.33.

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.