Palmer Knight Co Makes New Investment in The Travelers Companies, Inc. $TRV

Palmer Knight Co purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,242 shares of the insurance provider’s stock, valued at approximately $9,983,000. Travelers Companies makes up about 3.8% of Palmer Knight Co’s portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. HHM Wealth Advisors LLC increased its position in shares of Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Travelers Companies during the first quarter valued at approximately $26,000. LifeSteps Financial Inc. bought a new stake in Travelers Companies during the second quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new position in Travelers Companies in the 4th quarter worth approximately $26,000. Finally, Osterweis Capital Management Inc. increased its holdings in shares of Travelers Companies by 1,820.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. BMO Capital Markets cut Travelers Companies from an “outperform” rating to a “market perform” rating and increased their target price for the company from $314.00 to $379.00 in a research note on Tuesday, July 21st. Evercore set a $329.00 price target on Travelers Companies and gave the company an “in-line” rating in a research report on Friday, July 10th. Mizuho lifted their price target on Travelers Companies from $324.00 to $343.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company upped their price objective on Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Four 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $354.26.

Travelers Companies Stock Performance

Travelers Companies stock opened at $367.96 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $76.74 billion, a PE ratio of 9.85, a P/E/G ratio of 3.52 and a beta of 0.45. The firm has a fifty day simple moving average of $348.71 and a two-hundred day simple moving average of $316.68. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the business posted $6.51 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Research analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The business 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 1.4%. Travelers Companies’s dividend payout ratio is currently 13.39%.

Insider Buying and Selling at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the transaction, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Donnay Rowland sold 5,000 shares of Travelers Companies stock in a transaction that occurred on Wednesday, July 22nd. The stock was 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 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 disclosure for this sale is available in the SEC filing. Insiders sold 62,667 shares of company stock worth $22,688,329 over the last quarter. Company insiders own 1.39% of the company’s stock.

Travelers Companies Company 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.