Travelers Companies Inc (NYSE:TRV) stock was down on Thursday following the release of its earnings report for the first quarter of 2017.
During the first quarter of the year, Travelers Companies Inc reported earnings per share of $2.17. This is down from its earnings per share of $2.30 that was reported during the same time last year. It also didn’t reach Wall Street’s earnings per share estimate of $2.35 for the quarter.
Travelers Companies Inc reported revenue of $6.94 billion in the first quarter of 2017. This is an increase over its revenue of $6.69 billion from the first quarter of 2016. It also came in above analysts’ revenue estimate of $6.32 billion for the first quarter of the year.
Core income reported by Travelers Companies Inc in the first quarter of the year was $614 million. This is a decrease from its core income of $698 million that was reported in the same period of the year prior. TRV’s core income was previously reported as operating income.
Travelers Companies Inc reported net income of $617 million in the first quarter of 2017. The insurance company reported net income of $691 million during the same time of the previous year.
Travelers Companies Inc has also announced a cash dividend for the first quarter of the year. The company will be paying a dividend of 72 cents to investors. This is a 7.5% increase over its previous quarterly dividend. The dividend will be payable on June 30, 2017 to investors on record as of June 9, 2017.
TRV stock was down 1% as of noon Thursday.