Travelers's stock falls after profit, revenue fall below expectations; dividend increased [MarketWatch]
The Travelers Companies, Inc. (TRV)
Last the travelers companies, inc. earnings: 4/21 06:57 am
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Source: MarketWatch
Shares of Travelers Companies Inc. dropped 2.3% in premarket trading Tuesday, after the insurer reported first-quarter results that missed expectations, citing "challenging" events related to the COVID-19 pandemic, but the company raised its dividend by 3.7%. Net income fell to $600 million, or $2.33 a share, from $796 million, or $2.83 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share declined to $2.62 from $2.83, due primarily to higher catastrophe losses, missing the FactSet consensus of $2.85. Total revenue rose 3% to $7.91 billion, but was below the FactSet consensus of $8.05 billion, as net premiums written grew 4% to $7.35 billion to miss expectations of $7.42 billion. The company raised its quarterly dividend to 85 cents a share from 82 cents, with the new dividend payable June 30 to shareholders of record on June 10. The stock has tumbled 25.7% year to date through Monday, while the Dow Jones Industrial Average has lost 17.1%.
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News
- Travelers Canada Announces Results of Distracted Driving Risk Survey [Yahoo! Finance]Yahoo! Finance
- Travelers Canada Announces Results of Distracted Driving Risk SurveyBusiness Wire
- The Travelers Companies, Inc. (NYSE: TRV) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- 5 Stocks in Focus on Their Recent Dividend Hike [Yahoo! Finance]Yahoo! Finance
- The Travelers Companies, Inc. (NYSE: TRV) had its price target lowered by analysts at TD Cowen from $261.00 to $252.00. They now have a "buy" rating on the stock.MarketBeat
TRV
Earnings
- 4/17/24 - Miss
TRV
Sec Filings
- 4/26/24 - Form 4
- 4/25/24 - Form 144
- 4/24/24 - Form 4
- TRV's page on the SEC website