Cullen Frost Bankers Inc. Sells 10,907 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Cullen Frost Bankers Inc. lessened its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,446 shares of the insurance provider’s stock after selling 10,907 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Travelers Companies were worth $18,798,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Travelers Companies in the 4th quarter valued at $32,000. Pathway Financial Advisers LLC acquired a new position in Travelers Companies in the first quarter valued at about $35,000. Beacon Capital Management LLC increased its holdings in shares of Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of Travelers Companies during the fourth quarter worth about $39,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Travelers Companies during the first quarter worth about $42,000. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Up 1.1 %

Shares of NYSE:TRV traded up $2.61 during trading on Friday, hitting $234.46. 2,114,722 shares of the company were exchanged, compared to its average volume of 900,034. The stock has a market cap of $53.44 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.20 and a beta of 0.62. The Travelers Companies, Inc. has a fifty-two week low of $157.33 and a fifty-two week high of $236.59. The firm has a fifty day moving average price of $214.78 and a two-hundred day moving average price of $216.32. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($0.72). The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.35 billion. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. As a group, research analysts anticipate that The Travelers Companies, Inc. will post 17.19 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is 31.20%.

Insiders Place Their Bets

In other news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the completion of the transaction, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $4,820,409.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TRV. StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. TD Cowen downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $252.00 to $230.00 in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of Travelers Companies from $202.00 to $223.00 and gave the company an “underperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $225.00 target price on shares of Travelers Companies in a report on Monday, July 22nd. Finally, Barclays started coverage on Travelers Companies in a research note on Wednesday. They issued an “overweight” rating and a $286.00 price target on the stock. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $227.05.

Travelers Companies Company 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.