Palmer Knight Co Invests $9.98 Million in The Travelers Companies, Inc. $TRV

Palmer Knight Co bought a new position in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,242 shares of the insurance provider’s stock, valued at approximately $9,983,000. Travelers Companies comprises about 3.8% of Palmer Knight Co’s investment portfolio, making the stock its 8th biggest position.

A number of other hedge funds also recently bought and sold shares of TRV. Berman McAleer LLC lifted its holdings in Travelers Companies by 3.5% in the 2nd quarter. Berman McAleer LLC now owns 894 shares of the insurance provider’s stock worth $295,000 after buying an additional 30 shares during the period. Willner & Heller LLC increased its stake in shares of Travelers Companies by 2.7% during the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider’s stock valued at $398,000 after buying an additional 32 shares during the period. Spinnaker Trust raised its holdings in shares of Travelers Companies by 1.7% during the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider’s stock valued at $565,000 after acquiring an additional 33 shares in the last quarter. Cim LLC raised its holdings in shares of Travelers Companies by 0.4% during the fourth quarter. Cim LLC now owns 8,145 shares of the insurance provider’s stock valued at $2,363,000 after acquiring an additional 34 shares in the last quarter. Finally, Avalon Trust Co lifted its stake in Travelers Companies by 0.4% in the first quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider’s stock worth $2,562,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TRV. TD Cowen cut shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a report on Monday, July 13th. HSBC raised their target price on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Raymond James Financial set a $430.00 target price on shares of Travelers Companies in a research note on Monday, July 20th. Truist Financial increased their price target on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, The Goldman Sachs Group lowered shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective for the company. in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $354.26.

Travelers Companies Stock Up 0.9%

TRV stock opened at $367.96 on Wednesday. The business has a 50 day moving average of $348.71 and a 200 day moving average of $316.68. The firm has a market cap of $76.74 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last released its earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the company posted $6.51 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s payout ratio is currently 13.39%.

Insider Transactions at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following the transaction, the executive vice president owned 45,125 shares in the company, valued at $13,882,706.25. The trade was a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Donnay Rowland sold 5,000 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the sale, the executive vice president directly owned 10,479 shares in the company, valued at $3,894,939.51. This trade represents a 32.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 62,667 shares of company stock worth $22,688,329 over the last quarter. Corporate 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.