Travelers Earnings Drop 11% in 1Q
The St. Paul, Minn.-based insurer, which changed its name from St. Paul Travelers last year, said earnings were $967 million or $1.54 a share, compared with $1.09 billion or $1.56 a share in the year-ago quarter, on a greater number of shares outstanding.
Travelers reported first-quarter operating earnings, which analysts use to measure performance, of $1 billion, or $1.61 a share, beating analysts’ forecast of $1.54 a share, according to Reuters Estimates. In the year-ago quarter, it earned $1.1 billion, or $1.55 a share.
In the last 12 months, Travelers’ stock has fallen more than 10 percent, compared with a drop of more than 20 percent in the Standard & Poor’s insurance index.
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