PNC Financial Services Group Inc. Has $105.64 Million Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• PNC Financial Services Group Inc. reduced its stake in The Travelers Companies, Inc. by 1.1%, selling 4,612 shares, and now owns approximately 399,437 shares valued at $105.6 million.
• The Travelers Companies recently reported a significant earnings surprise, with $6.51 EPS for the last quarter, exceeding estimates by $2.99, and revenues reaching $11.54 billion.
• The company announced a quarterly dividend of $1.10 per share, with a yield of 1.7%, set to be paid on September 30th.

PNC Financial Services Group Inc. reduced its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 399,437 shares of the insurance provider's stock after selling 4,612 shares during the period. PNC Financial Services Group Inc. owned 0.18% of Travelers Companies worth $105,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP increased its stake in Travelers Companies by 0.3% in the 1st quarter. Baker Avenue Asset Management LP now owns 14,182 shares of the insurance provider's stock valued at $3,751,000 after buying an additional 45 shares during the last quarter. Blueshift Asset Management LLC increased its stake in Travelers Companies by 13.3% in the 1st quarter. Blueshift Asset Management LLC now owns 2,015 shares of the insurance provider's stock valued at $533,000 after buying an additional 236 shares during the last quarter. Castellan Group acquired a new stake in Travelers Companies in the 1st quarter valued at $5,726,000. Commerce Bank increased its stake in Travelers Companies by 9.3% in the 1st quarter. Commerce Bank now owns 24,993 shares of the insurance provider's stock valued at $6,610,000 after buying an additional 2,126 shares during the last quarter. Finally, MONECO Advisors LLC increased its stake in Travelers Companies by 17.4% in the 1st quarter. MONECO Advisors LLC now owns 2,325 shares of the insurance provider's stock valued at $615,000 after buying an additional 344 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Price Performance

TRV stock traded down $2.09 during trading on Thursday, reaching $265.50. 94,607 shares of the company were exchanged, compared to its average volume of 1,336,311. The company has a 50-day moving average of $263.56 and a two-hundred day moving average of $258.23. The company has a market capitalization of $59.77 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 3.07 and a beta of 0.51. The Travelers Companies, Inc. has a twelve month low of $208.63 and a twelve month high of $277.83. 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 released its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.52 by $2.99. The business had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.51 EPS. As a group, equities analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, September 10th. Travelers Companies's dividend payout ratio is currently 19.46%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CFO Daniel S. Frey sold 20,286 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the sale, the chief financial officer directly owned 26,932 shares of the company's stock, valued at $7,365,363.36. The trade was a 42.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Avrohom J. Kess sold 23,434 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $273.93, for a total transaction of $6,419,275.62. Following the sale, the insider directly owned 48,387 shares in the company, valued at $13,254,650.91. The trade was a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,374 shares of company stock worth $47,929,912 over the last 90 days. 1.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TRV shares. Wells Fargo & Company lifted their price objective on shares of Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Jefferies Financial Group lifted their target price on shares of Travelers Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Morgan Stanley set a $269.00 target price on shares of Travelers Companies and gave the stock an "equal weight" rating in a report on Monday, May 19th. UBS Group lifted their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and an average price target of $279.82.

Travelers Companies Company 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.