SummitTX Capital L.P. Sells 10,552 Shares of The Travelers Companies, Inc. $TRV

SummitTX Capital L.P. cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 84.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,960 shares of the insurance provider’s stock after selling 10,552 shares during the period. SummitTX Capital L.P.’s holdings in Travelers Companies were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family Manage LLC acquired a new stake in shares of Travelers Companies during the first quarter worth about $211,000. Gateway Wealth Partners LLC bought a new position in shares of Travelers Companies during the 1st quarter valued at about $328,000. Weiss Asset Management LP acquired a new position in shares of Travelers Companies in the 1st quarter valued at approximately $1,820,000. OMERS ADMINISTRATION Corp grew its position in shares of Travelers Companies by 34.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 13,006 shares of the insurance provider’s stock valued at $3,794,000 after purchasing an additional 3,342 shares during the period. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Travelers Companies during the 1st quarter worth approximately $237,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Trading Down 0.3%

NYSE TRV opened at $374.88 on Friday. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The stock’s 50 day moving average price is $329.97 and its two-hundred day moving average price is $308.01. The stock has a market capitalization of $78.19 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 3.61 and a beta of 0.46.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the business earned $6.51 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, analysts anticipate that The Travelers Companies, Inc. will post 33.47 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a yield of 1.3%. Travelers Companies’s dividend payout ratio is presently 13.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TRV shares. Barclays lifted their price target on shares of Travelers Companies from $295.00 to $318.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. HSBC boosted their price objective on shares of Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, Evercore set a $329.00 target price on shares of Travelers Companies and gave the stock an “in-line” rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $354.26.

Insiders Place Their Bets

In related news, EVP David Donnay Rowland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares of the company’s stock, valued at approximately $3,894,939.51. This trade represents a 32.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the completion of the sale, the executive vice president owned 9,213 shares in the company, valued at $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. Insiders have sold 62,667 shares of company stock valued at $22,688,329 in the last quarter. Company insiders own 1.39% of the company’s stock.

Travelers Companies 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.