Procyon Advisors LLC Lowers Position in The Travelers Companies, Inc. $TRV

Key Points

• Procyon Advisors LLC reduced its holdings in The Travelers Companies, Inc. by 86.6%, ending up with 2,502 shares valued at $669,000 as of its latest SEC filing.
• Travelers Companies' stock has received mixed ratings from analysts, with an average price target of $284.56 and a variety of recommendations ranging from Strong Buy to Sell.
• The company reported strong quarterly earnings, posting $6.51 EPS, beating consensus estimates significantly, with a revenue of $11.54 billion for the quarter.

Procyon Advisors LLC lessened its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 86.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,502 shares of the insurance provider's stock after selling 16,216 shares during the period. Procyon Advisors LLC's holdings in Travelers Companies were worth $669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Travelers Companies by 0.5% in 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 purchasing an additional 115,808 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Travelers Companies by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,403,539 shares of the insurance provider's stock valued at $899,988,000 after buying an additional 25,573 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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. Goldman Sachs Group Inc. increased its position in shares of Travelers Companies by 25.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock worth $511,631,000 after acquiring an additional 390,104 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in shares of Travelers Companies by 41.2% in the first quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider's stock worth $444,101,000 after purchasing an additional 490,039 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Travelers Companies Price Performance

NYSE TRV traded down $0.84 on Friday, reaching $277.07. 2,499,830 shares of the stock traded hands, compared to its average volume of 1,101,144. The firm's fifty day simple moving average is $268.10 and its 200 day simple moving average is $264.07. The company has a market cap of $62.38 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 3.19 and a beta of 0.53. The Travelers Companies, Inc. has a 12 month low of $224.62 and a 12 month high of $280.70. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

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

Travelers Companies Dividend Announcement

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

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 18,416 shares of the company's stock, valued at $4,900,865.92. The trade was a 38.45% decrease in their position. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRV. Wolfe Research assumed coverage on Travelers Companies in a research note on Monday. They set a "peer perform" rating for the company. Wall Street Zen downgraded shares of Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays downgraded shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $280.00 to $274.00 in a research report on Monday, July 7th. Citigroup assumed coverage on shares of Travelers Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $291.00 price objective for the company. Finally, Cantor Fitzgerald raised shares of Travelers Companies to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.