Cullen Frost Bankers Inc. Has $24.39 Million Stake in The Travelers Companies, Inc. $TRV

Cullen Frost Bankers Inc. grew its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 0.3% in the 2nd quarter, Holdings Channel reports. The fund owned 91,159 shares of the insurance provider’s stock after buying an additional 279 shares during the period. Cullen Frost Bankers Inc.’s holdings in Travelers Companies were worth $24,389,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Phoenix Financial Ltd. acquired a new position in Travelers Companies during the second quarter worth about $923,000. Avidian Wealth Enterprises LLC raised its stake in Travelers Companies by 18.7% during the second quarter. Avidian Wealth Enterprises LLC now owns 921 shares of the insurance provider’s stock worth $246,000 after acquiring an additional 145 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of Travelers Companies by 229.0% during the second quarter. Bogart Wealth LLC now owns 204 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 142 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Travelers Companies by 37.6% in the second quarter. Princeton Global Asset Management LLC now owns 278 shares of the insurance provider’s stock valued at $74,000 after buying an additional 76 shares during the period. Finally, Crewe Advisors LLC raised its holdings in Travelers Companies by 17.0% in the 2nd quarter. Crewe Advisors LLC now owns 310 shares of the insurance provider’s stock valued at $83,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Travelers Companies in a research report on Tuesday, October 14th. Cantor Fitzgerald upgraded shares of Travelers Companies to a “strong-buy” rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their target price on shares of Travelers Companies from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Barclays set a $313.00 target price on shares of Travelers Companies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $291.31.

Insider Activity

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.46% of the company’s stock.

Travelers Companies Stock Performance

Shares of TRV stock opened at $269.43 on Wednesday. The business’s 50 day simple moving average is $274.06 and its 200 day simple moving average is $266.51. The Travelers Companies, Inc. has a one year low of $230.23 and a one year high of $287.95. The stock has a market capitalization of $60.10 billion, a PE ratio of 10.59, a PEG ratio of 2.50 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, October 16th. The insurance provider reported $8.14 EPS for the quarter, beating the consensus estimate of $6.01 by $2.13. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The business had revenue of $11.47 billion for the quarter, compared to analysts’ expectations of $11.15 billion. During the same period in the prior year, the business posted $5.24 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. As a group, research analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, December 10th. Travelers Companies’s dividend payout ratio is presently 17.30%.

About Travelers Companies

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.