Bank of Nova Scotia Decreases Stake in The Travelers Companies, Inc. $TRV

Bank of Nova Scotia cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 19.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,706 shares of the insurance provider’s stock after selling 19,217 shares during the quarter. Bank of Nova Scotia’s holdings in Travelers Companies were worth $22,666,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TRV. Sei Investments Co. boosted its position in shares of Travelers Companies by 8.2% during the 1st quarter. Sei Investments Co. now owns 173,964 shares of the insurance provider’s stock worth $50,746,000 after acquiring an additional 13,126 shares in the last quarter. MWA Asset Management increased its stake in Travelers Companies by 8.8% in the first quarter. MWA Asset Management now owns 4,374 shares of the insurance provider’s stock valued at $1,277,000 after purchasing an additional 352 shares during the last quarter. Lido Advisors LLC raised its holdings in Travelers Companies by 9.4% during the first quarter. Lido Advisors LLC now owns 17,324 shares of the insurance provider’s stock worth $5,054,000 after purchasing an additional 1,484 shares in the last quarter. State of Wyoming raised its holdings in Travelers Companies by 42.7% during the first quarter. State of Wyoming now owns 2,185 shares of the insurance provider’s stock worth $637,000 after purchasing an additional 654 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Travelers Companies during the 1st quarter worth approximately $228,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Buying and Selling at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the transaction, the insider directly owned 259,590 shares in the company, valued at $80,639,037.60. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the transaction, the insider directly owned 48,737 shares of the company’s stock, valued at $15,049,010.86. This represents a 12.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 18,292 shares of company stock valued at $5,639,800. 1.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TRV has been the topic of a number of recent analyst reports. HSBC increased their target price on shares of Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Cantor Fitzgerald upped their price objective on shares of Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Bank of America raised their price objective on Travelers Companies from $283.00 to $307.00 and gave the stock an “underperform” rating in a report on Monday, July 20th. Wells Fargo & Company lifted their target price on Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, UBS Group boosted their target price on Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Travelers Companies has a consensus rating of “Hold” and an average price target of $354.26.

Key Stories Impacting Travelers Companies

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

Travelers Companies Stock Performance

Shares of TRV stock opened at $387.42 on Friday. The stock has a market capitalization of $80.80 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 3.87 and a beta of 0.46. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $389.11. The stock’s 50-day moving average price is $322.06 and its 200 day moving average price is $304.48. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $6.51 EPS. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 32.49 EPS for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is 13.39%.

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.