The Travelers Companies, Inc. (NYSE:TRV) Shares Sold by Peapack Gladstone Financial Corp

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 its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,540 shares of the insurance provider’s stock after selling 7,545 shares during the quarter. 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 institutional investors and hedge funds have also recently bought and sold shares of TRV. Sanctuary Advisors LLC purchased a new stake in shares of Travelers Companies in the 2nd quarter valued at approximately $9,798,000. Orion Portfolio Solutions LLC increased its holdings in Travelers Companies by 34.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,144 shares of the insurance provider’s stock valued at $4,248,000 after purchasing an additional 4,665 shares during the last quarter. Kintegral Advisory LLC raised its position in Travelers Companies by 14.3% in the second quarter. Kintegral Advisory LLC now owns 12,189 shares of the insurance provider’s stock valued at $2,479,000 after purchasing an additional 1,528 shares during the period. LPL Financial LLC lifted its stake in Travelers Companies by 7.4% during the second quarter. LPL Financial LLC now owns 177,528 shares of the insurance provider’s stock worth $36,099,000 after purchasing an additional 12,190 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Travelers Companies by 5.4% during the second quarter. TD Asset Management Inc now owns 264,320 shares of the insurance provider’s stock worth $53,747,000 after buying an additional 13,639 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRV has been the topic of several research analyst reports. BMO Capital Markets boosted their price objective on Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a report 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 research note on Monday, October 21st. UBS Group raised their price objective on shares of Travelers Companies from $244.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Janney Montgomery Scott downgraded shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price on the stock. in a research note on Thursday, November 21st. Finally, Royal Bank of Canada raised their price target on shares of Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $251.70.

Travelers Companies Price Performance

Shares of TRV opened at $246.30 on Friday. The firm has a fifty day moving average price of $253.03 and a 200 day moving average price of $230.26. The stock 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 Travelers Companies, Inc. has a 1-year low of $181.03 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.

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

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.71%. Travelers Companies’s payout ratio is 21.54%.

Insider Activity at Travelers Companies

In other news, EVP Andy F. Bessette sold 4,520 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $253.46, for a total value of $1,145,639.20. Following the transaction, the executive vice president now owns 16,976 shares of the company’s stock, valued at approximately $4,302,736.96. The trade was a 21.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William H. Heyman sold 3,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total value of $781,650.00. Following the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,149 shares of company stock worth $20,295,856 in the last 90 days. 1.33% of the stock is owned by 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.