Shares of property casualty insurance provider The Travelers Companies, Inc. (TRV) are rising more than 5% Wednesday morning after reporting better-than-expected first-quarter results.
The company also said it will buyback $5 billion of shares, in addition to the $1.605 billion that remained from previous authorizations as of March 31, 2023.
Net income was $975 million, or $4.13 per share, for the first quarter, lower than $1.018 billion, or $4.15 per share, in the prior year quarter.
Excluding one-time items, Core income in the current quarter was $970 million, or $4.11 per share, compared with $1.037 billion, or $4.22 per share last year, due to higher catastrophe losses and lower net favorable prior year reserve development.
On average, 20 analysts polled by Thomson-Reuters were expecting earnings of $3.55 per share.
Revenue for the quarter increased to $9.704 billion from $8.809 billion last year. The consensus estimate was for $9.19 billion.
The company's Board declared a dividend of $1.00 per share, 8% up from last year.
TRV is at $181.00 currently. It has traded in the range of $149.65-$194.51 in the last 52 weeks.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.