Coastal Bridge Advisors LLC Invests $1.41 Million in The Travelers Companies, Inc. $TRV

Coastal Bridge Advisors LLC purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,262 shares of the insurance provider’s stock, valued at approximately $1,407,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Travelers Companies in the second quarter worth $6,915,909,000. Legal & General Group Plc bought a new position in shares of Travelers Companies during the second quarter valued at $799,601,000. Bank of America Corp DE purchased a new position in shares of Travelers Companies in the 2nd quarter worth about $932,142,000. Norges Bank purchased a new position in shares of Travelers Companies in the 4th quarter worth about $723,339,000. Finally, GQG Partners LLC bought a new position in Travelers Companies in the 2nd quarter worth about $789,024,000. Institutional investors own 82.45% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the transaction, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $16,519,811.25. This represents a 11.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel S. Frey sold 14,037 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,667 shares of company stock worth $19,611,829 in the last 90 days. Insiders own 1.39% of the company’s stock.

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $369.13 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $76.99 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 3.53 and a beta of 0.45. The business has a 50-day simple moving average of $357.31 and a two-hundred day simple moving average of $320.43. The Travelers Companies, Inc. has a fifty-two week low of $252.26 and a fifty-two week high of $398.70.

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 analysts’ consensus estimates of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the firm posted $6.51 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

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 $1.25 dividend. 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 (DPR) is currently 13.39%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $356.00 price target (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Zacks Research raised shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. BMO Capital Markets lowered 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, Morgan Stanley upped their price objective on Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Four investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $354.26.

Travelers Companies 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.