Cullen Capital Management LLC Cuts Position in The Travelers Companies, Inc. $TRV

Cullen Capital Management LLC lessened its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 497,171 shares of the insurance provider’s stock after selling 11,082 shares during the quarter. Travelers Companies comprises 1.6% of Cullen Capital Management LLC’s portfolio, making the stock its 26th largest position. Cullen Capital Management LLC’s holdings in Travelers Companies were worth $144,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Osterweis Capital Management Inc. grew its holdings in Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 91 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Travelers Companies in the fourth quarter worth approximately $28,000. Entrust Financial LLC bought a new position in shares of Travelers Companies in the fourth quarter worth approximately $31,000. Navalign LLC bought a new position in shares of Travelers Companies in the fourth quarter worth approximately $35,000. Finally, eCIO Inc. bought a new position in shares of Travelers Companies in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

TRV has been the topic of several analyst reports. Brean Capital initiated coverage on shares of Travelers Companies in a research note on Thursday, March 12th. They issued a “neutral” rating on the stock. Piper Sandler upped their target price on shares of Travelers Companies from $329.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods upped their target price on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Evercore reiterated an “outperform” rating on shares of Travelers Companies in a research note on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $309.07.

Insider Activity at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the transaction, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane Kurtzman sold 2,867 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.45, for a total transaction of $869,991.15. Following the transaction, the executive vice president owned 5,298 shares in the company, valued at approximately $1,607,678.10. This trade represents a 35.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,573 shares of company stock valued at $11,504,146 over the last quarter. 1.39% of the stock is owned by company insiders.

Travelers Companies Trading Up 0.2%

Shares of NYSE TRV opened at $304.62 on Friday. The firm’s 50 day moving average price is $300.22 and its 200-day moving average price is $294.52. The company has a market cap of $64.78 billion, a PE ratio of 9.06, a P/E/G ratio of 2.74 and a beta of 0.48. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $313.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts’ consensus estimates of $6.80 by $0.91. The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. On average, equities research analysts expect that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies’s payout ratio is currently 14.88%.

Travelers Companies Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.