Patton Fund Management Inc. Lowers Stake in The Travelers Companies, Inc. $TRV

Key Points

• Patton Fund Management Inc. reduced its stake in The Travelers Companies by 43.0% during Q2, resulting in ownership of 9,642 shares valued at approximately $2.58 million.
• Several institutional investors, including Bearing Point Capital LLC and Forum Financial Management LP, have either increased or decreased their holdings in Travelers, with hedge funds owning 82.45% of the company's stock.
• The Travelers Companies declared a quarterly dividend of $1.10 per share, with a yield of 1.6%, scheduled for payment on September 30th to shareholders of record on September 10th.

Patton Fund Management Inc. lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 43.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,642 shares of the insurance provider's stock after selling 7,273 shares during the quarter. Patton Fund Management Inc.'s holdings in Travelers Companies were worth $2,580,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Bearing Point Capital LLC lifted its holdings in Travelers Companies by 2.0% during the first quarter. Bearing Point Capital LLC now owns 1,973 shares of the insurance provider's stock valued at $522,000 after purchasing an additional 38 shares in the last quarter. Forum Financial Management LP lifted its holdings in Travelers Companies by 0.9% during the first quarter. Forum Financial Management LP now owns 4,428 shares of the insurance provider's stock valued at $1,171,000 after purchasing an additional 39 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Travelers Companies by 13.9% during the first quarter. Y.D. More Investments Ltd now owns 319 shares of the insurance provider's stock valued at $84,000 after purchasing an additional 39 shares in the last quarter. Park National Corp OH lifted its holdings in Travelers Companies by 1.6% during the second quarter. Park National Corp OH now owns 2,580 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 40 shares in the last quarter. Finally, Smith Salley Wealth Management lifted its holdings in Travelers Companies by 0.6% during the first quarter. Smith Salley Wealth Management now owns 7,321 shares of the insurance provider's stock valued at $1,936,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Analyst Upgrades and Downgrades

TRV has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wolfe Research initiated coverage on shares of Travelers Companies in a report on Monday, September 15th. They issued a "peer perform" rating on the stock. Barclays downgraded shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Wells Fargo & Company boosted their target price on shares of Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $284.56.

Insiders Place Their Bets

In other Travelers Companies news, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the transaction, the executive vice president owned 18,416 shares in the company, valued at $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The disclosure for this sale can be found here. Insiders own 1.46% of the company's stock.

Travelers Companies Trading Up 1.3%

TRV stock opened at $277.73 on Friday. 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 twelve month low of $224.62 and a twelve month high of $280.70. The stock has a market capitalization of $62.53 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 3.15 and a beta of 0.53. The firm's fifty day simple moving average is $270.00 and its two-hundred day simple moving average is $264.74.

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, beating analysts' consensus estimates of $3.52 by $2.99. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The business had revenue of $11.54 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the previous year, the business posted $2.51 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

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

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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