Travelers Reports Second Quarter Net Income and Core Income per Diluted Share of $1.92 and $1.81, Respectively, Which Includes Catastrophe Losses of $1.40 per Diluted Share

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Go back to Travelers Reports Second Quarter Net Income and Core Income per Diluted Share of $1.92 and $1.81, Respectively, Which Includes Catastrophe Losses of $1.40 per Diluted Share

Travelers (TRV) PT Lowered to $143 at RBC Capital; Sees Better 2nd-Half

July 20, 2018 7:10 AM EDT

RBC Capital lowered its price target on Travelers (NYSE: TRV) to $143.00 (from $153.00) while maintaining an Outperform rating.

Analyst Mark Dwelle said while Q2 results were soft they expect a better 2nd-half of the year.

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Travelers (TRV) Reports Q2 EPS of $1.81, Revenues Beat

July 19, 2018 7:00 AM EDT

Travelers (NYSE: TRV) reported Q2 EPS of $1.81, versus $2.42 reported last year. Revenue for the quarter came in at $7.48 billion versus the consensus estimate of $6.92 billion.

Second quarter core income was $494 million, down from $543 million in the prior year quarter, due to a $122 million after-tax increase in catastrophe losses resulting from an active tornado and hail season, said Alan Schnitzer, Chairman and Chief Executive Officer. Results excluding catastrophe losses were strong, reflecting record net earned premiums and a consolidated underlying combined ratio of 93.6%, with each of our business segments contributing. The underlying combined ratio in... More