The Travelers Companies, Inc. $TRV Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services increased its stake in Travelers Companies by 1.5% in the fourth quarter, ending with 398,089 shares valued at about $115.5 million.
• Travelers reported strong quarterly results, with EPS of $7.71 beating estimates by $0.91 and revenue of $11.92 billion exceeding expectations.
• The company raised its quarterly dividend to $1.25 per share and continues to support shareholder returns with a $5 billion stock buyback program.

PNC Financial Services Group Inc. boosted its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 398,089 shares of the insurance provider's stock after purchasing an additional 5,989 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.18% of Travelers Companies worth $115,470,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock worth $789,000 after acquiring an additional 387 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Travelers Companies during the fourth quarter valued at $276,000. WINTON GROUP Ltd acquired a new stake in shares of Travelers Companies in the second quarter valued at about $382,000. CIBC Asset Management Inc increased its stake in shares of Travelers Companies by 13.9% during the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock worth $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock worth $28,254,000 after purchasing an additional 2,117 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore reaffirmed an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. BMO Capital Markets increased their target price on Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Roth Mkm reaffirmed a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Keefe, Bruyette & Woods boosted their price target on Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Finally, Bank of America reduced their price objective on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Travelers Companies has an average rating of "Hold" and an average target price of $309.13.

Travelers Companies Stock Up 0.5%

TRV stock opened at $307.02 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $299.20 and a two-hundred day moving average of $292.50. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.75 and a beta of 0.50.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its earnings results 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 return on equity of 24.06% and a net margin of 15.54%.The business had revenue of $11.92 billion for the quarter, compared to analysts' expectations of $11.11 billion. During the same period in the previous year, the firm posted $1.91 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, analysts forecast that The Travelers Companies, Inc. will post 28.03 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio (DPR) is currently 13.09%.

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

Insiders Place Their Bets

In other Travelers Companies news, EVP Diane Kurtzman sold 2,867 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the completion of the sale, the executive vice president directly owned 5,298 shares of the company's stock, valued at $1,607,678.10. This trade represents a 35.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were 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. The trade was a 0.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,573 shares of company stock worth $8,427,646. 1.39% of the stock is currently owned by company insiders.

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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