Palmer Knight Co Sells 7,729 Shares of The Travelers Companies, Inc. $TRV

Palmer Knight Co trimmed its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 21.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,056 shares of the insurance provider’s stock after selling 7,729 shares during the quarter. Travelers Companies makes up 3.2% of Palmer Knight Co’s investment portfolio, making the stock its 18th largest position. Palmer Knight Co’s holdings in Travelers Companies were worth $7,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Bearing Point Capital LLC grew its position in Travelers Companies by 2.0% in the first quarter. Bearing Point Capital LLC now owns 1,973 shares of the insurance provider’s stock worth $522,000 after acquiring an additional 38 shares in the last quarter. Forum Financial Management LP grew its position in Travelers Companies by 0.9% in the first quarter. Forum Financial Management LP now owns 4,428 shares of the insurance provider’s stock worth $1,171,000 after acquiring an additional 39 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Travelers Companies by 13.9% during the 1st quarter. Y.D. More Investments Ltd now owns 319 shares of the insurance provider’s stock worth $84,000 after buying an additional 39 shares during the period. Park National Corp OH grew its stake in Travelers Companies by 1.6% in the 2nd quarter. Park National Corp OH now owns 2,580 shares of the insurance provider’s stock valued at $690,000 after buying an additional 40 shares during the last quarter. Finally, ORG Partners LLC grew its stake in Travelers Companies by 5.6% in the 2nd quarter. ORG Partners LLC now owns 776 shares of the insurance provider’s stock valued at $207,000 after buying an additional 41 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRV shares. UBS Group raised their target price on shares of Travelers Companies from $284.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company reiterated a “positive” rating on shares of Travelers Companies in a research note on Friday. Wolfe Research started coverage on shares of Travelers Companies in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Travelers Companies in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and an average target price of $292.47.

Travelers Companies Trading Up 0.3%

Shares of 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 stock has a market cap of $59.05 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 2.90 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.35. The firm has a fifty day moving average of $273.93 and a 200-day moving average of $266.31.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data 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 company had revenue of $11.47 billion during the quarter, compared to analysts’ expectations of $11.15 billion. During the same quarter in the prior year, the company posted $5.24 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 17.30%.

Insider Activity

In other news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the executive vice president directly owned 18,416 shares in the company, valued at $4,900,865.92. This trade represents a 38.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.46% of the company’s stock.

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.