Synovus Financial Corp Lowers Position in The Travelers Companies, Inc. (NYSE:TRV)

Synovus Financial Corp cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,958 shares of the insurance provider’s stock after selling 1,798 shares during the quarter. Synovus Financial Corp’s holdings in Travelers Companies were worth $12,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Y.D. More Investments Ltd purchased a new stake in shares of Travelers Companies in the second quarter worth approximately $25,000. Wolff Wiese Magana LLC increased its position 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 valued at $37,000 after acquiring an additional 45 shares during the last quarter. True Wealth Design LLC bought a new stake in Travelers Companies during the third quarter worth $41,000. Catalyst Capital Advisors LLC purchased a new position in Travelers Companies in the third quarter worth $50,000. Finally, Salomon & Ludwin LLC grew its stake in Travelers Companies by 22.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 276 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 50 shares during the period. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Travelers Companies news, EVP Diane Kurtzman sold 3,941 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were 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 directly owns 1,715 shares in the company, valued at $446,671.75. This trade represents a 69.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William H. Heyman sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total transaction of $781,650.00. Following the transaction, the insider now owns 250,384 shares in the company, valued at $65,237,551.20. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,149 shares of company stock worth $20,295,856. Insiders own 1.33% of the company’s stock.

Travelers Companies Trading Down 0.5 %

Shares of TRV opened at $243.86 on Friday. The business’s 50-day moving average price is $252.83 and its 200-day moving average price is $230.03. The Travelers Companies, Inc. has a twelve month low of $181.03 and a twelve month high of $269.55. The stock has a market cap of $55.36 billion, a PE ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 0.63. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $11.46 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that The Travelers Companies, Inc. will post 18.84 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business 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. This represents a $4.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is presently 21.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TRV shares. BMO Capital Markets lifted their target price on Travelers Companies from $233.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Roth Mkm boosted their price target on shares of Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Bank of America boosted their price target on shares of Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. UBS Group boosted their price target on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies has a consensus rating of “Hold” and a consensus price target of $251.70.

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.