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

Eastern Bank grew its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 16.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,121 shares of the insurance provider’s stock after buying an additional 433 shares during the period. Eastern Bank’s holdings in Travelers Companies were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TRV. FMR LLC lifted its holdings in Travelers Companies by 12.6% during the 3rd quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after buying an additional 1,568,909 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Travelers Companies by 23,378.8% in the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock valued at $121,811,000 after purchasing an additional 518,075 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Travelers Companies by 66.9% in the 3rd quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock valued at $166,645,000 after purchasing an additional 282,884 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Travelers Companies in the 3rd quarter valued at about $54,988,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Travelers Companies by 216.3% in the 3rd quarter. Janus Henderson Group PLC now owns 339,901 shares of the insurance provider’s stock valued at $79,582,000 after purchasing an additional 232,428 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRV. Jefferies Financial Group boosted their target price on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Wells Fargo & Company reissued an “underweight” rating and issued a $217.00 target price (down from $256.00) on shares of Travelers Companies in a report on Wednesday, December 11th. The Goldman Sachs Group upgraded Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Bank of America boosted their price target on Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus price target of $254.85.

Travelers Companies Stock Performance

TRV opened at $233.12 on Tuesday. The Travelers Companies, Inc. has a 1-year low of $194.54 and a 1-year high of $269.55. 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 stock’s 50 day simple moving average is $250.54 and its 200 day simple moving average is $235.16. The stock has a market cap of $52.92 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.17 and a beta of 0.65.

Travelers Companies (NYSE:TRV) last posted 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. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Travelers Companies’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that The Travelers Companies, Inc. will post 18.84 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, December 10th. Travelers Companies’s dividend payout ratio is presently 21.54%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Diane Kurtzman sold 3,941 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the transaction, the executive vice president now owns 1,715 shares of the company’s stock, valued at $446,671.75. This represents a 69.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the transaction, the chief executive officer now directly owns 221,924 shares in the company, valued at approximately $57,726,870.88. This represents a 15.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,149 shares of company stock valued at $20,295,856 in the last quarter. 1.33% of the stock is currently owned by company insiders.

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.