Patton Albertson Miller Group LLC Sells 6,707 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Patton Albertson Miller Group LLC reduced its stake in The Travelers Companies by 31.7%, selling 6,707 shares and holding 14,448 shares valued at approximately $3.87 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their holdings in Travelers, with Vanguard owning over 21 million shares post-acquisition.
• The Travelers Companies reported earnings of $6.51 per share, significantly exceeding the consensus estimate, with a revenue increase of 7.4% compared to the previous year.

Patton Albertson Miller Group LLC lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 31.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,448 shares of the insurance provider's stock after selling 6,707 shares during the quarter. Patton Albertson Miller Group LLC's holdings in Travelers Companies were worth $3,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Travelers Companies by 0.5% during the first quarter. Vanguard Group Inc. now owns 21,733,556 shares of the insurance provider's stock worth $5,747,656,000 after acquiring an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 last quarter. GAMMA Investing LLC increased its holdings in Travelers Companies by 31,132.9% in the first quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock valued at $582,733,000 after purchasing an additional 2,196,426 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Travelers Companies by 25.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock valued at $511,631,000 after purchasing an additional 390,104 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in Travelers Companies by 41.2% in the first quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider's stock valued at $444,101,000 after purchasing an additional 490,039 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Insider Activity

In other news, EVP Gregory C. Toczydlowski sold 11,505 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the completion of the transaction, the executive vice president directly owned 18,416 shares of the company's stock, valued at $4,900,865.92. This represents a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was 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 owned by corporate insiders.

Travelers Companies Stock Up 1.3%

TRV stock opened at $277.73 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $62.53 billion, a P/E ratio of 12.28, a P/E/G ratio of 3.19 and a beta of 0.53. The business has a 50-day moving average of $270.00 and a 200-day moving average of $264.83. The Travelers Companies, Inc. has a fifty-two week low of $224.62 and a fifty-two week high of $280.70.

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

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio is currently 19.46%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TRV. Wall Street Zen downgraded Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Wolfe Research began coverage on Travelers Companies in a report on Monday, September 15th. They issued a "peer perform" rating for the company. Cantor Fitzgerald upgraded Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, UBS Group increased their price target on Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $284.56.

Travelers Companies 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.

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