Travelers' stock leaps further into record territory as earnings triple, profitability improves

Dow Jones10-17

MW Travelers' stock leaps further into record territory as earnings triple, profitability improves

Shares of Travelers Cos. Inc. $(TRV)$ shot up 7.4% into record territory in premarket trading Thursday, after the insurer reported a big third-quarter earnings beat and a profitability measure that saw sharp improvement. Net income more than tripled, to $1.26 billion, or $5.42 a share, from $404 million, or $1.74 a share in the same period a year ago. Excluding nonrecurring items, such as an investment gain, core earnings per share jumped to $5.24 from $1.95, and was well above the FactSet consensus of $3.66. The combined ratio, a measure of profitability for insurers - lower is better - improved to 93.2% from 101.0%, much better than the FactSet consensus of 96.9%. Total revenue grew 11.9% to $11.9 billion, above the FactSet consensus of $11.69 billion, as net written premiums rose 7.9% to $11.32 billion but came up shy of expectations of $11.38 billion. Catastrophe losses increased 10.5% to $939 million, primarily resulting from Hurricane Helene. The stock has rallied 27.5% year to date through Wednesday, while the SPDR S&P Insurance ETF $(KIE.UK)$ has run up 28.7% and the S&P 500 index has advanced 22.5%.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 17, 2024 07:21 ET (11:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Inc. $(TRV)$ shot up 7.4% into record territory in premarket trading ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TRV","symbol_name":"旅行者财产险集团","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2476491461","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476491461","pubTimestamp":1729164060,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Travelers Cos. 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