Bank of New York Mellon Corp Buys Over 1.4 Million Travelers Companies Shares

The Travelers Companies, Inc. (NYSE:TRV) has seen a significant increase in institutional ownership after Bank of New York Mellon Corp purchased a new position in the company's stock during the second quarter.

The firm acquired 1,422,225 shares valued at approximately $469,505,000, making up about 0.68% of Travelers Companies' outstanding shares.

This acquisition is part of a larger trend as institutional investors have been increasingly buying into TRV's stock. In fact, 82.45% of the company's stock is now owned by institutional investors.