Patton Fund Management Inc. Decreases Stake in The Travelers Companies, Inc. (NYSE:TRV)

Patton Fund Management Inc. decreased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,892 shares of the insurance provider’s stock after selling 3,820 shares during the quarter. Patton Fund Management Inc.’s holdings in Travelers Companies were worth $5,274,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its stake in Travelers Companies by 0.8% during the 3rd quarter. State Street Corp now owns 15,566,941 shares of the insurance provider’s stock valued at $3,644,532,000 after acquiring an additional 120,228 shares in the last quarter. FMR LLC boosted its holdings in shares of Travelers Companies by 12.6% during the 3rd quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after purchasing an additional 1,568,909 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Travelers Companies by 2.3% in the third quarter. Geode Capital Management LLC now owns 5,076,220 shares of the insurance provider’s stock valued at $1,187,865,000 after purchasing an additional 114,714 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Travelers Companies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,496,652 shares of the insurance provider’s stock valued at $350,396,000 after purchasing an additional 10,285 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Travelers Companies by 4.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,085,635 shares of the insurance provider’s stock valued at $254,169,000 after purchasing an additional 41,683 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Travelers Companies news, EVP Maria Olivo sold 10,410 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $261.80, for a total value of $2,725,338.00. Following the sale, the executive vice president now directly owns 111,162 shares of the company’s stock, valued at approximately $29,102,211.60. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman William H. Heyman sold 3,740 shares of Travelers Companies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.80, for a total transaction of $990,352.00. Following the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $66,301,683.20. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on TRV shares. HSBC upgraded Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of Travelers Companies from $268.00 to $275.00 and gave the stock a “market perform” rating in a research report on Monday. Piper Sandler upgraded shares of Travelers Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $259.00 to $310.00 in a report on Friday, January 24th. Jefferies Financial Group raised their price target on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price objective on Travelers Companies from $213.00 to $225.00 and gave the company an “underweight” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $260.47.

Travelers Companies Stock Down 0.9 %

Shares of TRV opened at $248.65 on Wednesday. The company’s 50-day simple moving average is $247.48 and its 200-day simple moving average is $238.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.33. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $269.55. The stock has a market capitalization of $56.45 billion, a PE ratio of 11.58, a P/E/G ratio of 1.09 and a beta of 0.65.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.65. The company had revenue of $12.01 billion for the quarter, compared to analyst estimates of $10.80 billion. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $7.01 EPS. Analysts forecast that The Travelers Companies, Inc. will post 20.33 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $1.05 per share. The ex-dividend date is Monday, March 10th. This represents a $4.20 annualized dividend and a yield of 1.69%. Travelers Companies’s payout ratio is 19.56%.

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.