Patton Fund Management Inc. Invests $6.02 Million in The Travelers Companies, Inc. (NYSE:TRV)

Patton Fund Management Inc. purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,712 shares of the insurance provider’s stock, valued at approximately $6,020,000. Travelers Companies comprises approximately 1.2% of Patton Fund Management Inc.’s portfolio, making the stock its 26th largest position.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Travelers Companies by 38.7% in the first quarter. Nordea Investment Management AB now owns 342,288 shares of the insurance provider’s stock worth $78,689,000 after acquiring an additional 95,451 shares during the last quarter. Cetera Investment Advisers boosted its stake in Travelers Companies by 356.3% during the first quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider’s stock worth $10,481,000 after buying an additional 35,560 shares during the last quarter. Wellington Management Group LLP boosted its stake in Travelers Companies by 100.9% during the fourth quarter. Wellington Management Group LLP now owns 50,910 shares of the insurance provider’s stock worth $9,698,000 after buying an additional 25,575 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Travelers Companies during the fourth quarter worth $874,000. Finally, GAMMA Investing LLC boosted its stake in Travelers Companies by 162.6% during the second quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 3,050 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the completion of the sale, the executive vice president now owns 22,798 shares of the company’s stock, valued at $4,820,409.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.33% of the stock is owned by company insiders.

Travelers Companies Trading Up 7.7 %

TRV stock traded up $18.70 during trading on Thursday, reaching $261.65. 1,037,356 shares of the stock traded hands, compared to its average volume of 1,308,899. The business’s 50 day moving average price is $229.76 and its 200-day moving average price is $219.07. The Travelers Companies, Inc. has a 52-week low of $157.33 and a 52-week high of $262.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $59.64 billion, a PE ratio of 16.38, a P/E/G ratio of 1.26 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. The firm had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.35 billion. During the same period last year, the firm posted $0.06 EPS. Travelers Companies’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.09 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

TRV has been the topic of a number of recent research reports. Citigroup boosted their price objective on Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a research note on Tuesday, July 30th. Piper Sandler lowered their price objective on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. UBS Group boosted their price objective on Travelers Companies from $238.00 to $244.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $225.00 price target on shares of Travelers Companies in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $231.63.

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.