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Before the opening bell on Thursday morning, Travelers Co. (TRV ) reported its fourth quarter results, posting estimate-beating earnings and revenues.
TRV chairman and CEO Jay Fishman had the following comments: “Fourth quarter net income of $1.038 billion provided a strong finish to an excellent year financially, strategically, and operationally. We achieved record levels of net income per diluted share for both the quarter and the full year of $3.11 and $10.70, respectively, benefitting from strong underwriting and investment results, as well as our ongoing strategy of returning excess capital to shareholders. For the full year, we achieved a return on equity of 14.6% and operating return on equity of 15.5%, bringing our average annual return on equity to 12.5% and average annual operating return on equity to 13.3% for the past decade."
Travelers’ board of directors declared a 55-cent quarterly dividend, which will be paid on March 31 to all shareholders on record as of March 10.
TRV stock was up $2.77, or 2.64%, in pre-market trading. The stock is down 0.79% so far this year.