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Travelers' stock (NYSE: TRV) dropped 8% on 19th July (Friday) vs a nearly 1% rise in the S&P500 index. In comparison, Travelers' peer, Hartford Financial (NYSE: HIG), was down 4% on the 19th.
The Travelers Companies, Inc. experienced a weak quarter due to catastrophe losses, but remains a reliable slow grower with strong net written premiums. Q2 net and core income metrics were lower than usual, but the company's combined ratio improved and net written premiums hit a record. Travelers remains shareholder-friendly with a strong buyback policy and annual dividend growth, making it an attractive long-term investment despite the recent selloff.
Travelers' (TRV) second-quarter results reflect solid underlying results, net favorable prior-year reserve development and higher net investment, partially offset by higher catastrophe losses.
The Travelers Companies (TRV) shares dropped in intraday trading Friday as the big insurance provider missed estimates for second-quarter sales and net premiums written.
Although the revenue and EPS for Travelers (TRV) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Travelers (TRV) came out with quarterly earnings of $2.51 per share, beating the Zacks Consensus Estimate of $2 per share. This compares to earnings of $0.06 per share a year ago.
Shares of Travelers Companies Inc. were set to resume their rally in early trading Friday after the insurer beat second-quarter profit expectations by a wide margin, even as revenue missed and catastrophe losses increased.
The Travelers Companies, Inc. TRV will release its second quarter financial results, before the opening bell on Friday, July 19.
Better performances across all three segments are likely to aid Travelers' (TRV) second-quarter results.
Travelers (TRV) is set to gain from strong renewal rate change, solid retention, increase in new business supported by a compelling portfolio and a solid capital position.