UPDATE: Travelers Q4 Profit Drops 31%

Travelers Companies Inc (NYSE: TRV) reported a 31% decline in its fourth-quarter profit.

Travelers' quarterly profit dropped to $618 million, or $1.51 per share, from $894 million,, or $1.95 per share, in the year-ago period. Its revenue climbed to $6.37 billion from $6.33 billion. However, analysts were expecting earnings of $1.54 per share on revenue of $5.46 billion.

Travelers shares fell 1.31% to $59.50 in pre-market trading.