Travelers Companies Inc. Invests $9.56 Million in Circle Internet Group, Inc. $CRCL

by · The Markets Daily

Travelers Companies Inc. purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 120,516 shares of the company’s stock, valued at approximately $9,557,000. Circle Internet Group comprises 6.3% of Travelers Companies Inc.’s holdings, making the stock its 2nd biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth $27,000. PNC Financial Services Group Inc. grew its stake in shares of Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after acquiring an additional 151 shares during the period. Larson Financial Group LLC grew its stake in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the period. Harbour Investments Inc. grew its stake in shares of Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares during the period. Finally, Montag A & Associates Inc. bought a new position in Circle Internet Group in the 3rd quarter worth about $33,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRCL. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Zacks Research upgraded Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Canaccord Genuity Group restated a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. KeyCorp began coverage on Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating for the company. Finally, HC Wainwright upgraded Circle Internet Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $150.00 in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.12.

Get Our Latest Analysis on Circle Internet Group

Circle Internet Group Stock Down 10.2%

Shares of NYSE CRCL opened at $90.59 on Thursday. The company has a market cap of $22.52 billion and a P/E ratio of -28.31. The business has a 50-day simple moving average of $103.88 and a two-hundred day simple moving average of $89.55. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Insider Activity

In other news, CAO Tamara L. Schulz sold 1,194 shares of Circle Internet Group stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $107.10, for a total transaction of $127,877.40. Following the completion of the sale, the chief accounting officer owned 90,829 shares in the company, valued at approximately $9,727,785.90. This trade represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director M Michele Burns sold 10,000 shares of Circle Internet Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $120.15, for a total value of $1,201,500.00. Following the sale, the director owned 330,206 shares of the company’s stock, valued at approximately $39,674,250.90. This trade represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 236,617 shares of company stock worth $25,045,808. Company insiders own 10.85% of the company’s stock.

About Circle Internet Group

(Free Report)

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.

Further Reading

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