Travelers Net Income Surges 337% Driven by Underwriting (TRV)
Thu. October 22, 2009; Posted: 06:48 AM
Oct 22, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/22/2009-Travelers (NYSE:TRV) reported Q3 EPS of $1.61, topping consensus estimates of $1.31. Revenues in the quarter rose 3%year-over-year to $6.33 billion, and came in ahead of consensus estimates of $6.0 billion. Travelers boosted guidance, now expecting full-year 2009 EPS of $5.30-5.50 (vs. consensus estimates of $5.28), up from previous EPS guidance $4.80 - $5.05. Travelers raised its quarterly dividend to $0.33 from $0.30 and authorized an additional $6.0 billion share buyback. "We remain cautious about the magnitude of rate gains that are achievable in the near term given general economic conditions."
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