Cullen Investment Group LTD. Makes New Investment in The Travelers Companies, Inc. $TRV

Cullen Investment Group LTD. purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 748 shares of the insurance provider’s stock, valued at approximately $200,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bearing Point Capital LLC boosted its position in Travelers Companies by 2.0% during the 1st quarter. Bearing Point Capital LLC now owns 1,973 shares of the insurance provider’s stock worth $522,000 after acquiring an additional 38 shares during the period. Forum Financial Management LP lifted its holdings in shares of Travelers Companies by 0.9% in the first quarter. Forum Financial Management LP now owns 4,428 shares of the insurance provider’s stock valued at $1,171,000 after buying an additional 39 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of Travelers Companies by 13.9% in the first quarter. Y.D. More Investments Ltd now owns 319 shares of the insurance provider’s stock valued at $84,000 after buying an additional 39 shares during the period. Smith Salley Wealth Management lifted its holdings in shares of Travelers Companies by 0.6% in the first quarter. Smith Salley Wealth Management now owns 7,321 shares of the insurance provider’s stock valued at $1,936,000 after buying an additional 44 shares during the period. Finally, Northern Financial Advisors Inc lifted its holdings in shares of Travelers Companies by 0.7% in the first quarter. Northern Financial Advisors Inc now owns 6,576 shares of the insurance provider’s stock valued at $1,739,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analysts Set New Price Targets

TRV has been the subject of several research analyst reports. Barclays lowered Travelers Companies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $280.00 to $274.00 in a report on Monday, July 7th. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the company an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $304.00 to $316.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Wells Fargo & Company boosted their target price on Travelers Companies from $264.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, Wall Street Zen lowered Travelers Companies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $284.56.

Travelers Companies Stock Down 0.2%

NYSE:TRV opened at $278.83 on Friday. The firm has a market capitalization of $62.77 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 3.21 and a beta of 0.53. The Travelers Companies, Inc. has a 1-year low of $224.62 and a 1-year high of $280.70. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $266.13 and its 200 day moving average price is $263.48.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating the consensus estimate of $3.52 by $2.99. The firm had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.Travelers Companies’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.51 earnings per share. On average, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies’s dividend payout ratio is presently 19.46%.

Insider Buying and Selling

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $266.12, for a total value of $3,061,710.60. Following the completion of the sale, the executive vice president directly owned 18,416 shares in the company, valued at $4,900,865.92. This trade represents a 38.45% decrease in their position. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by company insiders.

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.