Travelers Shares Rise As Profit, Sales Top Forecasts

Shares of Travelers Companies rallied 1.9% in premarket trade, after the insurance company reported third-quarter profit and revenue that exceeded expectations, citing strong underwriting performance and higher investment returns. Earnings for the quarter ended Sept. 30 rose to $9.19 million, or $2.69 a share, from $893 million, or $2.30 a share, in the year-earlier period. Analysts surveyed by FactSet were expecting per-share earnings of $2.26, on average. Revenue rose 7% from last year to $6.89 billion, as net written premiums increased 6% to $6.03 billion, topping analyst forecasts of $6.72 billion and $5.99 billion, respectively. The stock, a Dow industrials component, has gained 2.9% this year through Monday, while the Dow has declined 1.1%.