Synovus Financial Corp grew its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,215 shares of the insurance provider’s stock after buying an additional 3,398 shares during the quarter. Synovus Financial Corp’s holdings in The Travelers Companies were worth $15,098,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TRV. DekaBank Deutsche Girozentrale boosted its stake in shares of The Travelers Companies by 4.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 130,804 shares of the insurance provider’s stock valued at $15,903,000 after buying an additional 5,172 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of The Travelers Companies by 243.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 48,583 shares of the insurance provider’s stock valued at $5,856,000 after buying an additional 34,420 shares during the last quarter. Community Bank N.A. boosted its stake in shares of The Travelers Companies by 39.0% during the 1st quarter. Community Bank N.A. now owns 1,425 shares of the insurance provider’s stock valued at $172,000 after buying an additional 400 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of The Travelers Companies by 4.0% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 8,680 shares of the insurance provider’s stock valued at $1,046,000 after buying an additional 331 shares during the last quarter. Finally, TIAA CREF Trust Co. FSB MO boosted its stake in shares of The Travelers Companies by 13.7% during the 1st quarter. TIAA CREF Trust Co. FSB MO now owns 149,005 shares of the insurance provider’s stock valued at $17,961,000 after buying an additional 17,971 shares during the last quarter. Institutional investors own 77.48% of the company’s stock.

In related news, Vice Chairman Jay S. Benet sold 5,518 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $127.49, for a total transaction of $703,489.82. Following the completion of the transaction, the insider now owns 82,824 shares in the company, valued at approximately $10,559,231.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total value of $2,153,745.66. Following the transaction, the insider now owns 93,872 shares of the company’s stock, valued at approximately $12,204,298.72. The disclosure for this sale can be found here. Insiders have sold a total of 144,877 shares of company stock valued at $18,539,282 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: “The Travelers Companies, Inc. (TRV) Shares Bought by Synovus Financial Corp” was first published by Daily Political and is owned by of Daily Political. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://www.dailypolitical.com/2017/09/19/the-travelers-companies-inc-trv-shares-bought-by-synovus-financial-corp.html.

Several research firms have recently commented on TRV. Buckingham Research began coverage on The Travelers Companies in a research note on Monday, September 11th. They set a “buy” rating and a $136.00 target price for the company. Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Wells Fargo & Company reiterated a “hold” rating and set a $125.00 target price on shares of The Travelers Companies in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $115.00 target price on shares of The Travelers Companies in a research note on Thursday, May 25th. Finally, Credit Suisse Group reduced their target price on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 12th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The Travelers Companies presently has an average rating of “Hold” and a consensus target price of $126.26.

Shares of The Travelers Companies, Inc. (NYSE:TRV) opened at 120.72 on Tuesday. The firm has a 50-day moving average price of $124.96 and a 200 day moving average price of $123.80. The firm has a market capitalization of $33.31 billion, a price-to-earnings ratio of 12.02 and a beta of 1.21. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $130.37.

The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The Travelers Companies’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. On average, analysts anticipate that The Travelers Companies, Inc. will post $7.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.39%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.

The Travelers Companies declared that its board has approved a stock buyback program on Monday, September 11th that authorizes the company to buyback shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

The Travelers Companies Profile

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV).

Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

Receive News & Ratings for The Travelers Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Travelers Companies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.