Palmer Knight Co Sells 316 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Palmer Knight Co cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,451 shares of the insurance provider’s stock after selling 316 shares during the quarter. Travelers Companies makes up approximately 3.8% of Palmer Knight Co’s investment portfolio, making the stock its 9th largest position. Palmer Knight Co’s holdings in Travelers Companies were worth $8,534,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Ledyard National Bank grew its position in shares of Travelers Companies by 1.9% during the 3rd quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 39 shares during the period. Trueblood Wealth Management LLC boosted its position in Travelers Companies by 2.3% during the third quarter. Trueblood Wealth Management LLC now owns 1,807 shares of the insurance provider’s stock worth $423,000 after purchasing an additional 41 shares in the last quarter. Cornell Pochily Investment Advisors Inc. grew its holdings in Travelers Companies by 2.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 42 shares during the period. Willner & Heller LLC increased its position in shares of Travelers Companies by 4.1% in the third quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock valued at $268,000 after buying an additional 45 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in shares of Travelers Companies by 39.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock worth $37,000 after buying an additional 45 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Roth Mkm lifted their target price on shares of Travelers Companies from $240.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their price target on shares of Travelers Companies from $220.00 to $242.00 and gave the stock an “underweight” rating in a research report on Thursday, July 11th. StockNews.com upgraded Travelers Companies from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their target price on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $247.90.

Travelers Companies Price Performance

NYSE:TRV opened at $252.28 on Friday. The company has a market capitalization of $57.27 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.22 and a beta of 0.62. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 52 week low of $167.08 and a 52 week high of $269.55. The stock’s fifty day moving average is $240.61 and its two-hundred day moving average is $222.27.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.45. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. Travelers Companies’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 EPS. Equities analysts expect that The Travelers Companies, Inc. will post 18.53 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.66%. Travelers Companies’s dividend payout ratio (DPR) is presently 21.54%.

Insider Activity at Travelers Companies

In other news, EVP Andy F. Bessette sold 4,520 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the completion of the transaction, the executive vice president now directly owns 16,976 shares in the company, valued at $4,302,736.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Travelers Companies news, EVP Andy F. Bessette sold 4,520 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the sale, the executive vice president now directly owns 16,976 shares in the company, valued at $4,302,736.96. This represents a 0.00 % 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, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the transaction, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,999 shares of company stock worth $16,580,166. Insiders own 1.33% of the company’s stock.

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.