Cullen Frost Bankers Inc. Sells 10,907 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Cullen Frost Bankers Inc. trimmed its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,446 shares of the insurance provider’s stock after selling 10,907 shares during the period. Cullen Frost Bankers Inc.’s holdings in Travelers Companies were worth $18,798,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Northwest Financial Advisors bought a new stake in shares of Travelers Companies during the 4th quarter worth $32,000. Pathway Financial Advisers LLC bought a new stake in shares of Travelers Companies during the 1st quarter worth $35,000. Beacon Capital Management LLC boosted its holdings in shares of Travelers Companies by 74.2% during the 1st quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after buying an additional 66 shares during the period. Private Wealth Management Group LLC bought a new stake in shares of Travelers Companies during the 4th quarter worth $39,000. Finally, Opal Wealth Advisors LLC acquired a new position in Travelers Companies during the 1st quarter valued at $42,000. 82.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TRV. TD Cowen cut shares of Travelers Companies from a “buy” rating to a “hold” rating and cut their target price for the company from $252.00 to $230.00 in a research note on Monday, July 15th. Morgan Stanley cut their target price on shares of Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. William Blair reiterated a “market perform” rating on shares of Travelers Companies in a research note on Friday, June 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $225.00 target price on shares of Travelers Companies in a research note on Monday, July 22nd. Finally, Barclays began coverage on shares of Travelers Companies in a research note on Wednesday. They set an “overweight” rating and a $286.00 target price for the company. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average price target of $227.05.

Travelers Companies Price Performance

Shares of Travelers Companies stock traded up $2.61 during mid-day trading on Friday, reaching $234.46. 2,114,722 shares of the stock were exchanged, compared to its average volume of 900,034. The company has a market cap of $53.44 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.20 and a beta of 0.62. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $214.78 and a 200 day simple moving average of $216.32. The Travelers Companies, Inc. has a fifty-two week low of $157.33 and a fifty-two week high of $236.59.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.35 billion. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that The Travelers Companies, Inc. will post 17.19 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, September 10th. Travelers Companies’s dividend payout ratio is currently 31.20%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the sale, the executive vice president now owns 22,798 shares of the company’s stock, valued at approximately $4,820,409.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.33% of the company’s stock.

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.