The Travelers Companies, Inc. $TRV Shares Sold by Palmer Knight Co

Key Points

• Palmer Knight Co reduced its stake in The Travelers Companies, Inc. by 21.6%, selling 7,729 shares and retaining 28,056 shares, which now represent 3.2% of its holdings.
• The Travelers Companies reported $8.14 EPS for the latest quarter, exceeding analysts' estimates of $6.01, with a revenue of $11.47 billion.
• A quarterly dividend of $1.10 per share will be paid on December 31st, 2023, representing an annual yield of 1.7%.

Palmer Knight Co trimmed its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,056 shares of the insurance provider's stock after selling 7,729 shares during the quarter. Travelers Companies comprises 3.2% of Palmer Knight Co's holdings, making the stock its 18th biggest position. Palmer Knight Co's holdings in Travelers Companies were worth $7,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRV. Brighton Jones LLC raised its position in shares of Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock worth $789,000 after buying an additional 387 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Travelers Companies during the 4th quarter worth about $276,000. GAMMA Investing LLC raised its position in shares of Travelers Companies by 18.1% during the 1st quarter. GAMMA Investing LLC now owns 8,332 shares of the insurance provider's stock worth $2,203,000 after buying an additional 1,277 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Travelers Companies by 1.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,322 shares of the insurance provider's stock worth $42,927,000 after buying an additional 2,932 shares in the last quarter. Finally, Segment Wealth Management LLC raised its position in shares of Travelers Companies by 30.4% during the 1st quarter. Segment Wealth Management LLC now owns 1,609 shares of the insurance provider's stock worth $426,000 after buying an additional 375 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Mojgan M. Lefebvre sold 16,820 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Insiders own 1.46% of the company's stock.

Wall Street Analyst Weigh In

TRV has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Travelers Companies in a report on Tuesday, October 14th. Cantor Fitzgerald upgraded shares of Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. Wall Street Zen downgraded shares of Travelers Companies from a "buy" rating to a "hold" rating in a report on Sunday. Evercore ISI reiterated an "outperform" rating on shares of Travelers Companies in a report on Wednesday, October 1st. Finally, Piper Sandler boosted their target price on shares of Travelers Companies from $320.00 to $322.00 and gave the stock an "overweight" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $292.47.

Travelers Companies Stock Up 0.3%

TRV stock opened at $262.31 on Friday. The Travelers Companies, Inc. has a 52-week low of $230.23 and a 52-week high of $287.95. The company's 50 day simple moving average is $273.93 and its 200-day simple moving average is $266.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.33. The firm has a market capitalization of $59.05 billion, a P/E ratio of 10.31, a P/E/G ratio of 2.90 and a beta of 0.51.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.01 by $2.13. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. The business had revenue of $11.47 billion for the quarter, compared to analyst estimates of $11.15 billion. During the same quarter in the previous year, the business earned $5.24 earnings per share. The firm's revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.7%. Travelers Companies's payout ratio is presently 17.30%.

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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