Cadence Bank Increases Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Cadence Bank boosted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,474 shares of the insurance provider’s stock after acquiring an additional 114 shares during the quarter. Cadence Bank’s holdings in Travelers Companies were worth $1,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ledyard National Bank lifted its holdings in shares of Travelers Companies by 1.9% during the 3rd quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 39 shares during the last quarter. Trueblood Wealth Management LLC lifted its stake in shares of Travelers Companies by 2.3% during the third quarter. Trueblood Wealth Management LLC now owns 1,807 shares of the insurance provider’s stock worth $423,000 after buying an additional 41 shares during the period. Cornell Pochily Investment Advisors Inc. increased its position in shares of Travelers Companies by 2.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock valued at $351,000 after acquiring an additional 42 shares during the period. Willner & Heller LLC lifted its position in Travelers Companies by 4.1% during the 3rd quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock worth $268,000 after acquiring an additional 45 shares during the period. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of 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 purchasing an additional 45 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Price Performance

Shares of TRV opened at $263.77 on Wednesday. The firm has a 50-day simple moving average of $247.64 and a two-hundred day simple moving average of $226.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The Travelers Companies, Inc. has a 1-year low of $175.88 and a 1-year high of $269.55. The stock has a market cap of $59.88 billion, a PE ratio of 13.53, a P/E/G ratio of 1.24 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 earnings per share. As a group, analysts forecast that The Travelers Companies, Inc. will post 18.83 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $1.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.59%. Travelers Companies’s dividend payout ratio is presently 21.54%.

Insider Activity

In related news, Vice Chairman William H. Heyman sold 3,000 shares of Travelers Companies stock in a transaction on 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 directly owns 250,384 shares in the company, valued at approximately $65,237,551.20. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the sale, the chief executive officer now directly owns 221,924 shares in the company, valued at $57,726,870.88. This represents a 15.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,149 shares of company stock valued at $20,295,856. 1.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRV shares. UBS Group increased their price objective on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays upped their price objective on Travelers Companies from $286.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America boosted their target price on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Travelers Companies from $233.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut Travelers Companies from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $251.15.

Travelers Companies Company 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.