UPDATE: Travelers Posts Drop In Q4 Profit
Travelers Cos (NYSE: TRV) 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.
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