SummitTX Capital L.P. Sells 10,552 Shares of The Travelers Companies, Inc. $TRV

SummitTX Capital L.P. lessened its stake in The Travelers Companies, Inc. (NYSE:TRV) by 84.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,960 shares of the insurance provider’s stock after selling 10,552 shares during the quarter. SummitTX Capital L.P.’s holdings in Travelers Companies were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Travelers Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider’s stock worth $6,413,207,000 after acquiring an additional 110,311 shares in the last quarter. State Street Corp grew its position in shares of Travelers Companies by 3.1% in the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after acquiring an additional 486,861 shares during the period. Morgan Stanley grew its position in shares of Travelers Companies by 2.3% in the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock valued at $1,100,416,000 after acquiring an additional 85,298 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after purchasing an additional 123,564 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Travelers Companies during the 4th quarter worth about $723,339,000. 82.45% of the stock is owned by institutional investors.

Travelers Companies Stock Performance

NYSE TRV opened at $374.88 on Friday. The stock has a market cap of $78.19 billion, a PE ratio of 10.04, a P/E/G ratio of 3.61 and a beta of 0.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a 50-day moving average of $329.97 and a 200-day moving average of $308.01. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.51 EPS. On average, sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.47 EPS for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s payout ratio is currently 13.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Travelers Companies from $324.00 to $343.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Piper Sandler boosted their price target on Travelers Companies to $340.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Zacks Research raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America raised their price objective on Travelers Companies from $283.00 to $307.00 and gave the company an “underperform” rating in a research report on Monday, July 20th. Finally, Morgan Stanley lifted their target price on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $354.26.

Insider Buying and Selling

In related news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total value of $6,009,382.94. Following the completion of the sale, the executive vice president owned 9,213 shares of the company’s stock, valued at $3,393,884.94. This trade represents a 63.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 62,667 shares of company stock valued at $22,688,329 in the last ninety days. 1.39% of the stock is currently owned by company insiders.

Travelers Companies Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.