Travelers Shares Jump After It Trounces Q3 Estimates
Posted on October 18, 2012 at 15:23 PM EDT
Travelers (TRV), the nation's largest property and casualty insurer, crushed third-quarter profits estimates, sending shares to an all-time high. The strong result lifted the insurance group, which joined homebuilders among the top-performing groups for the day. Travelers' Q3 earnings per share shot up 181% to $2.22, well ahead of Wall Street's outlook of $1.61 Revenue also grew but at a more muted rate, rising less than 1% to $5.697 billion,