UPDATE: Travelers Q4 Profit Tops Estimates

reported stronger-than-expected fourth-quarter earnings. The New York-based company posted a quarterly net profit of $1.04 billion, or $3.11 per share, versus a year-ago profit of $988 million, or $2.70 per share. Its operating earnings climbed to $3.07 per share from $2.68 per share. Its total revenue gained 1% to $6.78 billion. However, analysts were expecting earnings of $2.54 per share on revenue of $6.8 billion. Net written premiums gained 4% to $5.84 billion in the quarter. The company's board approved a quarterly dividend of $0.55 per share. Travelers repurchased 9.7 million shares during the quarter. Jay Fishman, Chairman and Chief Executive Officer said, “We remain optimistic that we will continue to achieve superior returns over time across our business segments, and that, combined with our active capital management strategy, positions us to continue to deliver meaningful shareholder value.” Travelers shares fell 0.78% to close at $105.01 yesterday.