Travelers Companies Inc (TRV) Position Lowered by FineMark National Bank & Trust

Share on StockTwits

FineMark National Bank & Trust trimmed its stake in Travelers Companies Inc (NYSE:TRV) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,138 shares of the insurance provider’s stock after selling 3,473 shares during the period. FineMark National Bank & Trust’s holdings in Travelers Companies were worth $1,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eqis Capital Management Inc. grew its position in Travelers Companies by 4.5% during the 2nd quarter. Eqis Capital Management Inc. now owns 9,113 shares of the insurance provider’s stock worth $1,115,000 after purchasing an additional 390 shares during the last quarter. Weatherstone Capital Management grew its position in Travelers Companies by 14.8% during the 3rd quarter. Weatherstone Capital Management now owns 3,149 shares of the insurance provider’s stock worth $408,000 after purchasing an additional 405 shares during the last quarter. Elmwood Wealth Management Inc. grew its position in Travelers Companies by 6.3% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,096 shares of the insurance provider’s stock worth $920,000 after purchasing an additional 420 shares during the last quarter. CIBC Asset Management Inc grew its position in Travelers Companies by 1.6% during the 2nd quarter. CIBC Asset Management Inc now owns 26,640 shares of the insurance provider’s stock worth $3,259,000 after purchasing an additional 425 shares during the last quarter. Finally, Clean Yield Group grew its position in Travelers Companies by 26.0% during the 2nd quarter. Clean Yield Group now owns 2,068 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 427 shares during the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on TRV. Zacks Investment Research downgraded shares of Travelers Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. TheStreet raised shares of Travelers Companies from a “c+” rating to a “b” rating in a research report on Thursday, August 30th. B. Riley raised their price objective on shares of Travelers Companies from $118.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Citigroup raised their price objective on shares of Travelers Companies from $144.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, ValuEngine raised shares of Travelers Companies from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $136.36.

Shares of NYSE:TRV opened at $128.60 on Wednesday. The stock has a market capitalization of $33.08 billion, a PE ratio of 17.66, a PEG ratio of 0.99 and a beta of 1.19. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.29. Travelers Companies Inc has a fifty-two week low of $119.67 and a fifty-two week high of $150.55.

Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 18th. The insurance provider reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.28. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.83 billion. Travelers Companies had a net margin of 8.18% and a return on equity of 10.86%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, equities analysts predict that Travelers Companies Inc will post 9.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 10th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, December 7th. Travelers Companies’s payout ratio is 42.31%.

In other news, Vice Chairman Jay S. Benet sold 8,876 shares of Travelers Companies stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $132.00, for a total value of $1,171,632.00. Following the sale, the insider now owns 94,176 shares of the company’s stock, valued at $12,431,232. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andy F. Bessette sold 8,892 shares of Travelers Companies stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $130.78, for a total transaction of $1,162,895.76. Following the completion of the sale, the executive vice president now directly owns 10,551 shares in the company, valued at approximately $1,379,859.78. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Macon Daily and is owned by of Macon Daily. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://macondaily.com/2018/11/07/travelers-companies-inc-trv-position-lowered-by-finemark-national-bank-trust.html.

Travelers Companies 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.

Featured Story: Terms to Better Understand Call Options

Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travelers Companies Inc (NYSE:TRV).

Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply