Fulton Bank N.A. Cuts Stake in The Travelers Companies, Inc. $TRV

Key Points

• Fulton Bank N.A. reduced its stake in The Travelers Companies by 8.6%, ending the second quarter with holdings valued at $3.32 million.
• Recent insider selling included EVP Mojgan M. Lefebvre offloading 16,820 shares for approximately $4.67 million at an average price of $277.54.
• The Travelers Companies recently reported a quarterly EPS of $6.51, significantly above analyst expectations, with total revenue of $11.54 billion.

Fulton Bank N.A. lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 8.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,409 shares of the insurance provider's stock after selling 1,170 shares during the period. Fulton Bank N.A.'s holdings in Travelers Companies were worth $3,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Travelers Companies by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 21,733,556 shares of the insurance provider's stock valued at $5,747,656,000 after acquiring an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Travelers Companies by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,403,539 shares of the insurance provider's stock valued at $899,988,000 after purchasing an additional 25,573 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Travelers Companies by 12.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,712,620 shares of the insurance provider's stock worth $653,443,000 after buying an additional 291,506 shares in the last quarter. GAMMA Investing LLC raised its holdings in Travelers Companies by 31,132.9% in the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock worth $582,733,000 after purchasing an additional 2,196,426 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Travelers Companies by 25.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock valued at $511,631,000 after acquiring an additional 390,104 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on TRV. UBS Group lifted their price target on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wall Street Zen lowered Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Barclays downgraded Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Wolfe Research assumed coverage on Travelers Companies in a report on Monday, September 15th. They issued a "peer perform" rating on the stock. Finally, Wells Fargo & Company upped their price target on Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $284.56.

Travelers Companies Trading Down 0.3%

TRV stock traded down $0.84 during mid-day trading on Friday, hitting $277.07. 2,499,830 shares of the company were exchanged, compared to its average volume of 1,101,144. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 12-month low of $224.62 and a 12-month high of $280.70. The business has a fifty day simple moving average of $268.10 and a 200-day simple moving average of $264.11. The firm has a market capitalization of $62.38 billion, a P/E ratio of 12.25, a PEG ratio of 3.18 and a beta of 0.53.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $2.99. The business had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.51 EPS. On average, equities research analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.6%. Travelers Companies's dividend payout ratio is presently 19.46%.

Insider Transactions at Travelers Companies

In related news, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the completion of the sale, the executive vice president directly owned 18,416 shares in the company, valued at $4,900,865.92. The trade was a 38.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by company insiders.

About Travelers Companies

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.