Pinnacle Financial Partners Inc Lowers Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Pinnacle Financial Partners Inc decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,328 shares of the insurance provider’s stock after selling 433 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Travelers Companies were worth $2,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TRV. Quent Capital LLC increased its position in Travelers Companies by 19.7% during the 1st quarter. Quent Capital LLC now owns 1,375 shares of the insurance provider’s stock valued at $316,000 after purchasing an additional 226 shares during the period. Entropy Technologies LP bought a new position in shares of Travelers Companies during the first quarter valued at approximately $665,000. Great Lakes Retirement Inc. purchased a new position in Travelers Companies during the first quarter valued at approximately $1,023,000. Jupiter Asset Management Ltd. bought a new position in Travelers Companies in the first quarter worth approximately $4,974,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Travelers Companies by 3.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 186,582 shares of the insurance provider’s stock worth $42,882,000 after buying an additional 5,595 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Travelers Companies Trading Down 0.5 %

Shares of Travelers Companies stock opened at $256.71 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The Travelers Companies, Inc. has a 1 year low of $167.08 and a 1 year high of $269.55. The firm has a fifty day moving average price of $242.91 and a 200 day moving average price of $223.53. The stock has a market cap of $58.28 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.24 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last posted its earnings results 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. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The firm had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the business posted $1.95 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that The Travelers Companies, Inc. will post 18.64 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 21.54%.

Insider Activity at Travelers Companies

In related news, EVP Diane Kurtzman sold 3,941 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the completion of the transaction, the executive vice president now owns 1,715 shares in the company, valued at $446,671.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Travelers Companies news, EVP Diane Kurtzman sold 3,941 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.45, for a total value of $1,026,433.45. Following the transaction, the executive vice president now owns 1,715 shares in the company, valued at approximately $446,671.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman William H. Heyman sold 2,014 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $260.00, for a total transaction of $523,640.00. Following the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,099,840. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,999 shares of company stock worth $16,580,166 in the last 90 days. Corporate insiders own 1.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRV. StockNews.com upgraded Travelers Companies from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their target price on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Barclays increased their price target on shares of Travelers Companies from $286.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Piper Sandler cut their price objective on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and an average price target of $247.90.

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.