UPDATE: Travelers Posts Drop In Q4 Profit

Travelers Cos

reported a drop in its fourth-quarter profit. Travelers' quarterly profit declined to $304 million, or $0.78 per share, versus $618 million, or $1.51 per share, in the year-earlier period. Its operating earnings fell to $0.72 per share from $1.48 per share. Its revenue climbed 2% to $6.48 billion. However, analysts were expecting earnings of $0.14 per share. Travelers shares closed at $76.31 on Friday.