Principal Financial Group Inc. Has $79.24 Million Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Principal Financial Group increased its stake in Travelers Companies by 2.2% in the fourth quarter, holding 273,194 shares valued at about $79.2 million.
• Travelers reported strong quarterly earnings of $7.71 per share, beating estimates, and revenue of $11.92 billion, while also announcing a $5 billion share repurchase plan and a dividend hike to $1.25 per share quarterly.
• Recent insider activity has been mostly selling, with executives including William H. Heyman and Jeffrey P. Klenk reducing holdings; despite this, analysts’ consensus remains Hold with an average target price of $309.13.

Principal Financial Group Inc. boosted its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,194 shares of the insurance provider's stock after purchasing an additional 5,778 shares during the period. Principal Financial Group Inc. owned about 0.12% of Travelers Companies worth $79,243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Osterweis Capital Management Inc. grew its position in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after acquiring an additional 91 shares during the last quarter. Barnes Dennig Private Wealth Management LLC raised its position in Travelers Companies by 134.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Travelers Companies during the fourth quarter valued at about $28,000. eCIO Inc. acquired a new stake in shares of Travelers Companies during the fourth quarter valued at about $37,000. Finally, Optima Capital LLC bought a new stake in shares of Travelers Companies during the fourth quarter worth about $38,000. Institutional investors own 82.45% of the company's stock.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total transaction of $483,666.48. Following the transaction, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. This represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction on Monday, April 20th. The shares were sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares of the company's stock, valued at $1,853,239.50. This represents a 51.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,573 shares of company stock valued at $8,427,646 over the last ninety days. Insiders own 1.39% of the company's stock.

Travelers Companies Stock Down 0.8%

Shares of NYSE TRV opened at $299.06 on Friday. The company's 50 day moving average price is $300.48 and its 200-day moving average price is $290.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $313.12. The company has a market capitalization of $63.60 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.50.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. During the same period in the prior year, the company posted $1.91 earnings per share. Travelers Companies's revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts forecast that The Travelers Companies, Inc. will post 28.03 earnings per share for the current year.

Travelers Companies announced that its board has authorized a stock repurchase plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Travelers Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio is currently 13.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TRV shares. Evercore reiterated an "outperform" rating on shares of Travelers Companies in a report on Friday, April 17th. Citigroup restated a "neutral" rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Mizuho dropped their price target on shares of Travelers Companies from $315.00 to $304.00 and set a "neutral" rating for the company in a research note on Thursday, January 22nd. Brean Capital started coverage on shares of Travelers Companies in a report on Thursday, March 12th. They set a "neutral" rating on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $309.13.

Travelers Companies 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.

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