Patten & Patten Inc. TN Reduces Position in The Travelers Companies, Inc. (NYSE:TRV)

Patten & Patten Inc. TN reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,012 shares of the insurance provider’s stock after selling 50 shares during the period. Patten & Patten Inc. TN’s holdings in Travelers Companies were worth $237,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kennebec Savings Bank acquired a new stake in Travelers Companies in the third quarter valued at $72,000. Ashton Thomas Securities LLC purchased a new position in shares of Travelers Companies in the 3rd quarter valued at about $156,000. Baker Avenue Asset Management LP raised its position in shares of Travelers Companies by 1.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 14,108 shares of the insurance provider’s stock worth $3,303,000 after acquiring an additional 162 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Travelers Companies during the 3rd quarter worth about $892,000. Finally, Arrow Financial Corp lifted its stake in Travelers Companies by 3.8% during the third quarter. Arrow Financial Corp now owns 9,327 shares of the insurance provider’s stock worth $2,184,000 after purchasing an additional 344 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Stock Performance

Shares of TRV stock opened at $258.36 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12-month low of $167.08 and a 12-month high of $269.55. The company has a market cap of $58.65 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.62. The stock has a 50 day simple moving average of $241.70 and a 200-day simple moving average of $222.90.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the company earned $1.95 earnings per share. Travelers Companies’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that The Travelers Companies, Inc. will post 18.53 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.63%. Travelers Companies’s payout ratio is currently 21.54%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRV. Roth Mkm raised their price objective on shares of Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group lifted their price target on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on shares of Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their target price on Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and a consensus price target of $247.90.

Insider Buying and Selling at Travelers Companies

In other news, EVP Andy F. Bessette sold 4,520 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the sale, the executive vice president now owns 16,976 shares of the company’s stock, valued at $4,302,736.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Andy F. Bessette sold 4,520 shares of Travelers Companies stock in a transaction on Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the completion of the transaction, the executive vice president now directly owns 16,976 shares of the company’s stock, valued at approximately $4,302,736.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 2,014 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $260.00, for a total value of $523,640.00. Following the completion of the sale, the insider now directly owns 250,384 shares in the company, valued at $65,099,840. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,999 shares of company stock valued at $16,580,166. Corporate insiders own 1.33% of the company’s stock.

Travelers Companies 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.