The Travelers Cos. (TRV) on Tuesday reported second-quarter earnings of $812 million, or $2.53 per share. Earnings, adjusted for investment gains, were $2.52 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.
The New York-based insurer, with major operations in Hartford, posted revenue of $6.7 billion in the period, which also topped forecasts. Five analysts surveyed by Zacks expected $6.6 billion.
Travelers shares have decreased 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 3 percent. The stock has increased roughly 8 percent in the last 12 months.
