Corient Private Wealth LP Takes $51.07 Million Position in The Travelers Companies, Inc. $TRV

Corient Private Wealth LP acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 154,685 shares of the insurance provider’s stock, valued at approximately $51,066,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in Travelers Companies in the 2nd quarter valued at about $932,142,000. Magnolia Capital Advisors LLC purchased a new stake in Travelers Companies during the second quarter worth about $391,000. Freestone Grove Partners LP acquired a new position in shares of Travelers Companies in the second quarter worth $33,614,000. Caisse de depot et placement du Quebec purchased a new stake in Travelers Companies during the 2nd quarter worth about $2,341,000. Finally, Pointe Capital Management LLC purchased a new position in Travelers Companies in the second quarter worth approximately $251,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Stock Performance

Shares of TRV stock opened at $369.13 on Friday. 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 business has a 50 day moving average of $357.31 and a two-hundred day moving average of $320.43. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70. The company has a market cap of $76.99 billion, a P/E ratio of 9.89, a PEG ratio of 3.53 and a beta of 0.45.

Travelers Companies (NYSE:TRV) last announced 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 company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the company posted $6.51 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s payout ratio is currently 13.39%.

Insider Buying and Selling

In other news, CFO Daniel S. Frey sold 14,037 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the transaction, the chief financial officer owned 27,535 shares in the company, valued at approximately $10,139,488.40. This trade represents a 33.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at approximately $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 52,667 shares of company stock worth $19,611,829. 1.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TRV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $316.00 to $322.00 in a research report on Tuesday, May 26th. Cantor Fitzgerald upped their price target on Travelers Companies from $335.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. The Goldman Sachs Group lowered Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective on the stock. in a report on Monday, July 20th. BMO Capital Markets downgraded shares of Travelers Companies from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $314.00 to $379.00 in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their target price on Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $354.26.

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.