Principal Financial Group Inc. Cuts Position in The Travelers Companies, Inc. $TRV

Principal Financial Group Inc. decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 1.5% during the first quarter, HoldingsChannel.com reports. The fund owned 269,143 shares of the insurance provider’s stock after selling 4,051 shares during the quarter. Principal Financial Group Inc.’s holdings in Travelers Companies were worth $78,504,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC grew its holdings in shares of Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 51 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Travelers Companies during the first quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new position in Travelers Companies during the fourth quarter valued at $26,000. Osterweis Capital Management Inc. grew its stake in shares of Travelers Companies by 1,820.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after buying an additional 91 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Travelers Companies in the 4th quarter worth $28,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Travelers Companies news, EVP Diane Kurtzman sold 2,867 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $303.45, for a total transaction of $869,991.15. Following the completion of the transaction, the executive vice president owned 5,298 shares in the company, valued at $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman William H. Heyman sold 1,557 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value 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 SEC filing for this sale provides additional information. Insiders have sold 37,573 shares of company stock valued at $11,504,146 over the last quarter. Corporate insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRV. TD Cowen cut shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price on the stock. in a research report on Monday. Seaport Research Partners set a $322.00 price target on Travelers Companies in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their price objective on Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Mizuho upped their price objective on Travelers Companies from $304.00 to $324.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, HSBC raised their price objective on Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $329.11.

Travelers Companies Price Performance

Travelers Companies stock opened at $336.89 on Friday. The firm has a 50-day moving average price of $312.92 and a 200-day moving average price of $301.03. The firm has a market capitalization of $71.64 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 2.94 and a beta of 0.46. 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 Travelers Companies, Inc. has a 12-month low of $251.30 and a 12-month high of $349.35.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The firm had revenue of $11.92 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same period in the previous year, the company earned $1.91 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 28.31 EPS for the current year.

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.