Corebridge Financial Inc. Has $14.32 Million Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• Corebridge Financial Inc. decreased its holdings in The Travelers Companies, Inc. by 6.0%, selling 3,461 shares in the first quarter and resulting in a total ownership of 54,164 shares valued at approximately $14.3 million.
• Insiders, including EVP Maria Olivo and CEO Alan D. Schnitzer, sold significant shares of the company, indicating a 23.46% and 11.91% decrease in their respective positions.
• The Travelers Companies reported strong quarterly earnings, with $6.51 EPS, surpassing estimates and showing a year-over-year revenue increase of 7.4% to $11.54 billion.

Corebridge Financial Inc. decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,164 shares of the insurance provider's stock after selling 3,461 shares during the period. Corebridge Financial Inc.'s holdings in Travelers Companies were worth $14,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PFG Advisors increased its position in Travelers Companies by 108.8% in the 1st quarter. PFG Advisors now owns 4,255 shares of the insurance provider's stock valued at $1,125,000 after acquiring an additional 2,217 shares in the last quarter. Greatmark Investment Partners Inc. increased its position in Travelers Companies by 3.0% in the first quarter. Greatmark Investment Partners Inc. now owns 60,953 shares of the insurance provider's stock worth $16,120,000 after purchasing an additional 1,772 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of Travelers Companies during the 1st quarter worth approximately $208,000. Atlas Capital Advisors Inc. grew its position in shares of Travelers Companies by 890.9% during the 1st quarter. Atlas Capital Advisors Inc. now owns 4,558 shares of the insurance provider's stock worth $1,205,000 after buying an additional 4,098 shares during the period. Finally, Concurrent Investment Advisors LLC grew its holdings in Travelers Companies by 47.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,305 shares of the insurance provider's stock worth $1,403,000 after acquiring an additional 1,703 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Travelers Companies news, EVP Gregory C. Toczydlowski sold 11,505 shares of Travelers Companies stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $266.12, for a total value of $3,061,710.60. Following the completion of the sale, the executive vice president owned 18,416 shares in the company, valued at $4,900,865.92. The trade was a 38.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of Travelers Companies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRV. UBS Group lifted their price objective on Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen lowered Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley set a $269.00 price objective on shares of Travelers Companies and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays lowered shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $280.00 to $274.00 in a report on Monday, July 7th. Finally, Cantor Fitzgerald raised shares of Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Travelers Companies currently has a consensus rating of "Hold" and an average target price of $284.56.

Travelers Companies Stock Performance

Travelers Companies stock traded up $1.34 during mid-day trading on Friday, hitting $271.62. 681,010 shares of the company's stock traded hands, compared to its average volume of 1,184,954. The firm has a 50 day simple moving average of $263.85 and a two-hundred day simple moving average of $261.09. The Travelers Companies, Inc. has a fifty-two week low of $222.21 and a fifty-two week high of $279.04. The stock has a market cap of $61.15 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 3.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $2.99. The business had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.51 EPS. On average, research analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 19.46%.

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.