Corient Private Wealth LP Makes New $64.31 Million Investment in The Travelers Companies, Inc. $TRV

Key Points

• Corient Private Wealth acquired 291,659 Travelers shares worth approximately $64.31 million, while institutional investors collectively own 82.45% of the company.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, on revenue of $12.15 billion. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.4% annual yield.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $354.26; TRV opened at $369.13, after trading between $252.26 and $398.70 over the past year.

Corient Private Wealth LP bought a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 291,659 shares of the insurance provider's stock, valued at approximately $64,308,000. Corient Private Wealth LP owned 0.14% of Travelers Companies as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. BlackRock Inc. bought a new position in Travelers Companies in the second quarter worth approximately $6,915,909,000. State Street Corp increased its holdings in shares of Travelers Companies by 3.1% in the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after acquiring an additional 486,861 shares during the period. Morgan Stanley increased its holdings in shares of Travelers Companies by 2.3% in the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock valued at $1,100,416,000 after acquiring an additional 85,298 shares during the period. Legal & General Group Plc bought a new position in shares of Travelers Companies in the 2nd quarter worth $799,601,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock worth $1,016,433,000 after purchasing an additional 123,564 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Mizuho lifted their target price on Travelers Companies from $324.00 to $343.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an "underweight" rating to a "neutral" rating and raised their price target for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. The Goldman Sachs Group downgraded shares of Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price objective on the stock. in a research report on Monday, July 20th. TD Cowen lowered shares of Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price objective for the company. in a research note on Monday, July 13th. Finally, Barclays raised their target price on shares of Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Travelers Companies has an average rating of "Hold" and an average price target of $354.26.

Travelers Companies Trading Down 0.5%

NYSE:TRV opened at $369.13 on Friday. The company has a market capitalization of $76.99 billion, a P/E ratio of 9.89, a PEG ratio of 3.53 and a beta of 0.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. The firm has a fifty day simple moving average of $357.31 and a 200-day simple moving average of $320.43.

Travelers Companies (NYSE:TRV - Get Free Report) last released its 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 return on equity of 25.41% and a net margin of 16.95%.The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the firm earned $6.51 EPS. The firm's revenue was up .3% on a year-over-year basis. On average, equities research analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company 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 dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies's payout ratio is 13.39%.

Insider Transactions at Travelers Companies

In other news, EVP David Donnay Rowland sold 5,000 shares of the company's stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the sale, the executive vice president directly owned 10,479 shares of the company's stock, valued at $3,894,939.51. This represents a 32.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the sale, the chief financial officer owned 27,535 shares in the company, valued at $10,139,488.40. The trade was a 33.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,667 shares of company stock valued at $19,611,829 over the last quarter. Company insiders own 1.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source