Coastal Bridge Advisors LLC boosted its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 8.4% in the 2nd quarter, Holdings Channel reports. The firm owned 2,119 shares of the insurance provider’s stock after purchasing an additional 164 shares during the period. Coastal Bridge Advisors LLC’s holdings in The Travelers Companies were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Baldrige Asset Management LLC purchased a new stake in The Travelers Companies in the 2nd quarter valued at $30,000. Capital Analysts LLC raised its position in The Travelers Companies by 718.5% during the 2nd quarter. Capital Analysts LLC now owns 221 shares of the insurance provider’s stock worth $33,000 after buying an additional 194 shares during the last quarter. RMR Wealth Builders purchased a new position in The Travelers Companies during the 1st quarter worth $38,000. Vestor Capital LLC purchased a new position in The Travelers Companies during the 1st quarter worth $41,000. Finally, Ameritas Investment Company LLC purchased a new position in The Travelers Companies during the 1st quarter worth $48,000. Hedge funds and other institutional investors own 81.84% of the company’s stock.
TRV has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of The Travelers Companies in a research report on Wednesday, July 21st. Bank of America downgraded shares of The Travelers Companies from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $171.00 to $161.00 in a research report on Thursday, July 22nd. Wolfe Research started coverage on shares of The Travelers Companies in a report on Monday, August 16th. They issued an “outperform” rating and a $180.00 price target for the company. Morgan Stanley increased their price target on shares of The Travelers Companies from $166.00 to $168.00 and gave the company an “equal weight” rating in a report on Monday, August 16th. Finally, increased their price target on shares of The Travelers Companies from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, June 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, The Travelers Companies currently has a consensus rating of “Hold” and an average target price of $161.69.
Shares of The Travelers Companies stock traded up $1.28 during mid-day trading on Wednesday, hitting $157.63. 22,537 shares of the stock were exchanged, compared to its average volume of 1,231,312. The Travelers Companies, Inc. has a twelve month low of $105.67 and a twelve month high of $163.29. The stock has a market capitalization of $39.33 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. The company has a 50-day simple moving average of $155.06 and a 200 day simple moving average of $154.63. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Monday, July 19th. The insurance provider reported $3.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $1.06. The Travelers Companies had a net margin of 11.30% and a return on equity of 12.71%. The company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period last year, the company earned ($0.20) EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts forecast that The Travelers Companies, Inc. will post 12.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 10th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, September 9th. This represents a $3.52 annualized dividend and a dividend yield of 2.23%. The Travelers Companies’s dividend payout ratio is currently 33.59%.
About The Travelers Companies
The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment offers a broad array of property and casualty insurance, and insurance related services to its customers.
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