The Travelers Companies, Inc. (NYSE:TRV) Shares Sold by Palmer Knight Co

Palmer Knight Co trimmed its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,298 shares of the insurance provider’s stock after selling 107 shares during the quarter. Travelers Companies accounts for about 4.2% of Palmer Knight Co’s portfolio, making the stock its 6th biggest holding. Palmer Knight Co’s holdings in Travelers Companies were worth $6,914,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in shares of Travelers Companies by 1.3% in the third quarter. Handelsbanken Fonder AB now owns 84,333 shares of the insurance provider’s stock valued at $13,772,000 after purchasing an additional 1,075 shares in the last quarter. Golden State Equity Partners increased its holdings in shares of Travelers Companies by 21.9% in the 3rd quarter. Golden State Equity Partners now owns 1,957 shares of the insurance provider’s stock valued at $320,000 after purchasing an additional 351 shares during the period. Lake Street Financial LLC acquired a new stake in shares of Travelers Companies during the third quarter worth approximately $203,000. Atlantic Union Bankshares Corp increased its stake in Travelers Companies by 1.3% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 6,915 shares of the insurance provider’s stock valued at $1,129,000 after buying an additional 90 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Travelers Companies by 2.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 104,338 shares of the insurance provider’s stock worth $17,039,000 after buying an additional 2,733 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James boosted their target price on Travelers Companies from $220.00 to $245.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. Citigroup lifted their target price on shares of Travelers Companies from $215.00 to $226.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Roth Mkm restated a “buy” rating and set a $240.00 price target on shares of Travelers Companies in a report on Thursday, April 18th. JMP Securities reiterated a “market perform” rating on shares of Travelers Companies in a report on Friday, April 19th. Finally, Morgan Stanley boosted their price target on Travelers Companies from $222.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and an average price target of $223.47.

Travelers Companies Price Performance

NYSE:TRV traded down $0.89 on Monday, reaching $212.56. The stock had a trading volume of 394,217 shares, compared to its average volume of 1,482,162. The Travelers Companies, Inc. has a 1-year low of $157.33 and a 1-year high of $232.75. The stock has a fifty day moving average price of $221.50 and a 200-day moving average price of $198.91. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $48.67 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.58.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.62 billion. Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.11 EPS. Research analysts forecast that The Travelers Companies, Inc. will post 17.74 EPS for the current year.

Travelers Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be given a dividend of $1.05 per share. This is a boost from Travelers Companies’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.20 annualized dividend and a dividend yield of 1.98%. Travelers Companies’s payout ratio is presently 31.20%.

Insider Buying and Selling at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $215.06, for a total transaction of $967,770.00. Following the completion of the transaction, the insider now owns 255,178 shares in the company, valued at $54,878,580.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Daniel S. Frey sold 38,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $212.55, for a total transaction of $8,076,900.00. Following the completion of the transaction, the chief financial officer now directly owns 14,810 shares in the company, valued at approximately $3,147,865.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman William H. Heyman sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $215.06, for a total value of $967,770.00. Following the completion of the transaction, the insider now owns 255,178 shares of the company’s stock, valued at $54,878,580.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,734 shares of company stock valued at $17,208,404. 1.33% of the stock is currently owned by company 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.