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

Cullen Capital Management LLC purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 480,235 shares of the insurance provider’s stock, valued at approximately $158,535,000. Travelers Companies comprises 1.6% of Cullen Capital Management LLC’s portfolio, making the stock its 29th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arbejdsmarkedets Tillaegspension bought a new stake in shares of Travelers Companies during the fourth quarter worth approximately $24,167,000. Biondo Investment Advisors LLC bought a new position in Travelers Companies in the second quarter valued at approximately $13,649,000. Evolve Private Wealth LLC bought a new position in Travelers Companies in the second quarter valued at approximately $987,000. Rit Capital Partners PLC acquired a new stake in Travelers Companies during the 4th quarter worth $39,450,000. Finally, Bank of Nova Scotia bought a new stake in shares of Travelers Companies during the 2nd quarter valued at $19,949,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Stock Up 1.9%

Shares of Travelers Companies stock opened at $370.65 on Tuesday. The company has a market capitalization of $77.31 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The business has a 50-day moving average of $353.55 and a two-hundred day moving average of $318.93. The Travelers Companies, Inc. has a 1 year low of $252.26 and a 1 year high of $398.70.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating the consensus estimate of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the business posted $6.51 EPS. Travelers Companies’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts predict that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Travelers Companies’s payout ratio is presently 13.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TRV. Cantor Fitzgerald raised their price target on Travelers Companies from $335.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley increased their target price on Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. UBS Group raised their target price on Travelers Companies from $314.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Mizuho boosted their target price on Travelers Companies from $324.00 to $343.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Piper Sandler upped their price target on Travelers Companies to $340.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $354.26.

Insider Buying and Selling

In other news, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the completion of the sale, the executive vice president owned 45,125 shares of the company’s stock, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the sale, the executive vice president owned 9,213 shares in the company, valued at approximately $3,393,884.94. The trade was a 63.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 52,667 shares of company stock valued at $19,611,829. 1.39% of the stock is owned by corporate insiders.

Travelers Companies Company 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.