Bank of Nova Scotia Buys 3,373 Shares of The Travelers Companies, Inc. $TRV

Bank of Nova Scotia grew its position in The Travelers Companies, Inc. (NYSE:TRV) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,962 shares of the insurance provider’s stock after purchasing an additional 3,373 shares during the quarter. Bank of Nova Scotia’s holdings in Travelers Companies were worth $28,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TRV. Varma Mutual Pension Insurance Co boosted its holdings in Travelers Companies by 21.7% during the third quarter. Varma Mutual Pension Insurance Co now owns 48,247 shares of the insurance provider’s stock valued at $13,472,000 after acquiring an additional 8,600 shares during the period. Liberty One Investment Management LLC increased its stake in shares of Travelers Companies by 32.3% in the third quarter. Liberty One Investment Management LLC now owns 26,228 shares of the insurance provider’s stock worth $7,323,000 after purchasing an additional 6,408 shares during the period. National Pension Service lifted its position in shares of Travelers Companies by 1.8% during the 3rd quarter. National Pension Service now owns 746,883 shares of the insurance provider’s stock worth $208,545,000 after purchasing an additional 13,120 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new position in shares of Travelers Companies during the 3rd quarter worth about $7,955,000. Finally, CWM LLC boosted its stake in Travelers Companies by 11.3% during the 3rd quarter. CWM LLC now owns 135,143 shares of the insurance provider’s stock valued at $37,735,000 after purchasing an additional 13,758 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Travelers Companies

In other news, EVP Jeffrey P. Klenk sold 16,712 shares of Travelers Companies stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the sale, the executive vice president directly owned 6,075 shares in the company, valued at approximately $1,699,602.75. The trade was a 73.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maria Olivo sold 10,400 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the completion of the sale, the executive vice president directly owned 117,596 shares in the company, valued at approximately $35,366,997. The trade was a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 92,845 shares of company stock worth $27,239,631. Corporate insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Jefferies Financial Group raised Travelers Companies to a “hold” rating in a research report on Tuesday, January 6th. Zacks Research cut Travelers Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Travelers Companies from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. The Goldman Sachs Group lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 target price on the stock. in a research report on Wednesday, January 7th. Finally, UBS Group reiterated a “neutral” rating on shares of Travelers Companies in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $304.33.

Travelers Companies Price Performance

Shares of TRV stock opened at $304.53 on Tuesday. The Travelers Companies, Inc. has a 12 month low of $230.43 and a 12 month high of $313.12. The company has a market capitalization of $65.85 billion, a P/E ratio of 11.06, a P/E/G ratio of 2.81 and a beta of 0.49. The stock has a 50 day moving average of $292.36 and a two-hundred day moving average of $284.67. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.34 by $2.79. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.Travelers Companies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $9.15 earnings per share. As a group, equities analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies announced that its board has authorized a share repurchase plan on Wednesday, January 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Travelers Companies’s payout ratio is 15.98%.

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.