Cullen Frost Bankers Inc. Reduces Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Cullen Frost Bankers Inc. trimmed its stake in The Travelers Companies, Inc. (NYSE:TRV) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,628 shares of the insurance provider’s stock after selling 947 shares during the period. Cullen Frost Bankers Inc.’s holdings in Travelers Companies were worth $22,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Travelers Companies by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,414 shares of the insurance provider’s stock valued at $822,000 after purchasing an additional 41 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Travelers Companies by 3.3% during the fourth quarter. Quent Capital LLC now owns 1,363 shares of the insurance provider’s stock valued at $328,000 after purchasing an additional 43 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Travelers Companies by 5.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 905 shares of the insurance provider’s stock valued at $218,000 after purchasing an additional 44 shares during the last quarter. Somerset Trust Co raised its holdings in shares of Travelers Companies by 5.2% during the fourth quarter. Somerset Trust Co now owns 918 shares of the insurance provider’s stock valued at $221,000 after purchasing an additional 45 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in shares of Travelers Companies by 3.8% during the third quarter. Brooklyn Investment Group now owns 1,255 shares of the insurance provider’s stock valued at $294,000 after purchasing an additional 46 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $257.97 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a fifty day moving average price of $244.16 and a 200 day moving average price of $244.09. The Travelers Companies, Inc. has a fifty-two week low of $200.21 and a fifty-two week high of $269.55. The firm has a market cap of $58.49 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 4.65 and a beta of 0.60.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm had revenue of $12.01 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the business earned $7.01 earnings per share. Travelers Companies’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $1.05 per share. The ex-dividend date is Monday, March 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.63%. Travelers Companies’s dividend payout ratio is 19.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TRV shares. HSBC raised shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Tuesday, December 10th. Piper Sandler upgraded shares of Travelers Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $259.00 to $310.00 in a research report on Friday, January 24th. Wells Fargo & Company boosted their target price on shares of Travelers Companies from $213.00 to $225.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group upgraded shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 target price for the company in a research report on Wednesday, January 8th. Finally, Janney Montgomery Scott lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price for the company. in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight 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 price target of $261.05.

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.