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

Peapack Gladstone Financial Corp trimmed its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,540 shares of the insurance provider’s stock after selling 7,545 shares during the period. Peapack Gladstone Financial Corp’s holdings in Travelers Companies were worth $5,978,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TRV. Blue Trust Inc. lifted its holdings in Travelers Companies by 18.3% in the second quarter. Blue Trust Inc. now owns 3,000 shares of the insurance provider’s stock valued at $610,000 after acquiring an additional 464 shares during the period. Everpar Advisors LLC lifted its stake in shares of Travelers Companies by 9.3% in the second quarter. Everpar Advisors LLC now owns 1,201 shares of the insurance provider’s stock valued at $244,000 after purchasing an additional 102 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Travelers Companies by 1.6% during the second quarter. Nisa Investment Advisors LLC now owns 90,198 shares of the insurance provider’s stock worth $18,341,000 after buying an additional 1,442 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in Travelers Companies by 4.8% during the second quarter. Meridian Investment Counsel Inc. now owns 20,141 shares of the insurance provider’s stock worth $4,095,000 after buying an additional 920 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Travelers Companies during the 2nd quarter valued at approximately $3,388,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company restated an “underweight” rating and issued a $217.00 price target (down previously from $256.00) on shares of Travelers Companies in a report on Wednesday. Jefferies Financial Group raised their price target on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. BMO Capital Markets increased their price objective on shares of Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $251.70.

Travelers Companies Stock Up 1.0 %

Shares of TRV opened at $246.30 on Friday. The Travelers Companies, Inc. has a fifty-two week low of $181.03 and a fifty-two week high of $269.55. The company’s fifty day moving average is $253.03 and its two-hundred day moving average is $230.26. The firm has a market cap of $55.92 billion, a PE ratio of 12.63, a price-to-earnings-growth 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 posted its quarterly 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 firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate 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 business earned $1.95 earnings per share. Analysts forecast that The Travelers Companies, Inc. will post 18.84 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $1.05 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.71%. Travelers Companies’s payout ratio is 21.54%.

Insider Buying and Selling at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the sale, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at $57,726,870.88. This trade 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 over the last ninety days. Corporate insiders own 1.33% of the company’s stock.

About Travelers Companies

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.