Synovus Financial Corp Sells 1,798 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Synovus Financial Corp lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd purchased a new stake in shares of Travelers Companies during the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC boosted its stake 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 purchasing an additional 45 shares during the period. True Wealth Design LLC purchased a new stake in shares of Travelers Companies during the third quarter valued at approximately $41,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Travelers Companies during the third quarter valued at approximately $50,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Travelers Companies by 22.1% during the third 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. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

TRV has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “underweight” rating and set a $217.00 price objective (down previously from $256.00) on shares of Travelers Companies in a research note on Wednesday. StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group raised their price target on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Roth Mkm raised their price target on Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $251.70.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $243.86 on Friday. The Travelers Companies, Inc. has a 12 month low of $181.03 and a 12 month high of $269.55. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $252.83 and a two-hundred day simple moving average of $230.03. The firm has a market capitalization of $55.36 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 0.63.

Travelers Companies (NYSE:TRV) last issued 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 during the quarter, compared to the consensus estimate of $11.46 billion. During the same period last year, the company earned $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 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

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 issued a dividend of $1.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.72%. Travelers Companies’s payout ratio is presently 21.54%.

Insider Activity

In related news, Vice Chairman William H. Heyman sold 2,014 shares of Travelers Companies stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $260.00, for a total value of $523,640.00. Following the completion of the sale, the insider now directly owns 250,384 shares in the company, valued at approximately $65,099,840. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane Kurtzman sold 3,941 shares of Travelers Companies stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.45, for a total value of $1,026,433.45. Following the completion of the sale, the executive vice president now owns 1,715 shares of the company’s stock, valued at $446,671.75. The trade was a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,149 shares of company stock worth $20,295,856 over the last three months. 1.33% of the stock is currently owned by corporate insiders.

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.