The Travelers Companies, Inc., through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. The Business Insurance segment offers workers' compensation, commercial automobile and property, general liability, commercial multi-peril, employers' liability, public and product liability, professional indemnity, marine, aviation, onshore and offshore energy, construction, terrorism, personal accident, and kidnap and ransom insurance products. This segment operates through select accounts, which serve small businesses; commercial accounts that serve mid-sized businesses; national accounts, which serve large companies; and national property and other that serve large and mid-sized customers, commercial trucking industry, and agricultural businesses, as well as markets and distributes its products through brokers, wholesale agents, and program managers. The Bond & Specialty Insurance segment provides surety, fidelity, management and professional liability, and other property and casualty coverages and related risk management services through independent agencies and brokers. The Personal Insurance segment offers property and casualty insurance covering personal risks, primarily automobile and homeowners' insurance to individuals through independent agencies and brokers. The Travelers Companies, Inc. was founded in 1853 and is based in New York, New York.

Компания The Travelers Companies, Inc. демонстрирует смешанную картину по ключевым фундаментальным метрикам. Мультипликаторы, такие как P/E и P/S, находятся ниже медианы отрасли, что указывает на недооцененность, однако P/B значительно выше, что может свидетельствовать о переоцененности. Эффективность компании по ROE и ROA впечатляет, так как оба показателя превышают медианные значения, что говорит о высоком качестве управления активами. Тем не менее, текущие коэффициенты ликвидности, такие как current_ratio, остаются на уровне ниже медианы, что вызывает опасения относительно способности компании покрывать краткосрочные обязательства. Долговая нагрузка, представленная debt_equity_ratio, ниже медианных значений, что является положительным моментом. Прибыль и выручка показывают положительную динамику, однако снижение дивидендной доходности может негативно сказаться на восприятии инвесторами. В целом, несмотря на сильные показатели в некоторых областях, есть риски, связанные с ликвидностью и переоцененностью по P/B, что требует осторожного подхода к оценке дальнейших перспектив компании.

The Travelers Companies, Inc.

Chubb Limited CB is a leading global property and casualty insurer and reinsurer with a diversified portfolio spanning commercial and personal P&C, reinsurance, accident & health, and life insurance.
Its focus on middle-market opportunities, strategic distribution partnerships, and ongoing growth investments continues to expand its market reach. Geographic and business diversification supports stable cash flows, while earnings have grown 19.7% over the past five years. The company has a market capitalization of $125.9 billion.
CB is an Outperformer
Shares of Chubb have gained 12.1% in the past year, outperforming its industry’s 4.9% decline.
Image Source: Zacks Investment Research
CB’s Expensive Valuation
Shares of Chubb are trading at a premium compared with the Zacks Property and Casualty Insurance industry. Its forward price-to-book value of 1.63X is higher than the industry average of 1.39X.
Shares of The Travelers Companies, Inc. TRV, W.R. Berkley Corporation WRB, and Arch Capital Group Ltd. ACGL are also trading at a multiple higher than the industry average.
Consensus Estimates for CB
The Zacks Consensus Estimate for 2026 earnings is pinned at $26.4 per share, implying a year-over-year increase of 6.5%. The consensus estimate for revenues is pegged at $63.4 billion, indicating a year-over-year improvement of 5.7%. The expected long term earings growth is pegged at 6.1%.
Positive Analyst Sentiment on CB
Over the past 30 days, earnings estimates for Chubb have increased by 0.2% for 2026 and 0.6% for 2027.
Image Source: Zacks Investment Researc
Over the past 30 days, earnings estimates for TRV have been revised upward for 2026, whereas estimates for WRB and ACGL have been revised downward.
Factors Benefiting CB Stock
Chubb is focused on expanding its presence in middle-market businesses globally while strengthening its core and specialty insurance offerings to drive long-term growth. The company is also investing in strategic initiatives and pursuing targeted acquisitions to diversify its portfolio, enhance capabilities, and expand its geographic footprint. Its recent agreement to acquire Liberty Mutual’s insurance businesses in Thailand and Vietnam reflects this strategy.
These acquisitions, along with commercial P&C rate increases, new business growth, and strong renewal retention, are expected to support premium growth and improve long-term return on equity.
CB’s return on equity in the trailing 12 months was 13.2%, better than the industry average of 7.3%. Also, return on invested capital (ROIC) has been increasing over the last few quarters amid capital investments made over the same time frame. This reflects CB’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 8.7%, better than the industry average of 5.7%.
Chubb expects its investment income run rate to keep rising as it reinvests cash flows at higher interest rates. Adjusted investment income increased 9% in 2025, supported by strong returns from both public fixed income and private portfolios. For the first quarter of 2026, the company projects adjusted net investment income in the range of $1.81 billion to $1.84 billion.
The company maintains a solid balance sheet and ample liquidity to support strategic priorities. In 2025, operating cash flow and adjusted operating cash flow totaled $12.8 billion and $13.9 billion, respectively. This strong capital position enables Chubb to return value to shareholders through dividends and share repurchases. In 2025, Chubb returned $4.91 billion to shareholders, including $3.39 billion in share repurchases and $381 million in dividends.
Conclusion
Chubb’s market-leading position, compelling portfolio, strong renewal retention, positive rate increases, solid capital position, and better return on capital pave the way for long-term growth.
The strong capital and liquidity position enable CB to distribute wealth to its shareholders via share buybacks and dividend payouts. The company’s current dividend yield of 1.2% is better than the industry average of 0.3%. The recent 5.2% increase in dividends marks the 33rd straight year of dividend increase. Chubb has a solid track record of dividend hikes, which makes it an attractive pick for investors looking for a safe and steady flow of cash.
However, as a property and casualty insurer, Chubb remains exposed to catastrophe events, which can create volatility in underwriting profitability and impact the combined ratio. Uncertainty around the magnitude of catastrophe losses could weigh on earnings if losses rise. Given these risks and the stock’s premium valuation, we prefer to remain cautious on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks Top 10 Stocks for 2026
Hurry – you can still get in early on our 10 top tickers for 2026. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful.
From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2026. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Chubb's Solid Growth Comes With a Premium Valuation - Hold or Buy?

The Travelers Companies, Inc. TRV is one of the leading writers of auto and homeowners’ insurance, as well as commercial U.S. property-casualty insurance. The insurer is poised to grow on strong pricing momentum, as the company continues to implement rate increases across its business and personal insurance segments to offset inflationary pressures.
Shares of Travelers have gained 15.7% over the past year, outperforming its industry’s 5% decline over the same period. The stock has also surpassed the broader Finance sector, which has recorded a 15.7% gain over the past year. It has a market capitalization of $65.4 billion.
Image Source: Zacks Investment Research
Shares of other insurers, such as The Allstate Corporation ALL and Arch Capital Group Ltd. ACGL, are also outperforming the industry average, while The Progressive Corporation PGR has underperformed the industry.
TRV Shares are Expensive
Its shares are trading at a premium to the Zacks Property and Casualty Insurance industry. Its price-to-book value of 2.05X is higher than the industry average of 1.38X. However, TRV has a Value Score of A.
Image Source: Zacks Investment Research
Shares of Allstate, Arch Capital, and Progressive are also trading at multiples above the industry average. Their price-to-book ratios are 1.86x, 1.46x and 3.97x, respectively.
Zacks Estimates for TRV
The Zacks Consensus Estimate for 2026 revenues is pegged at $50.1 billion, suggesting 2.6% year-over-year growth. The consensus estimate for earnings per share is currently pegged at $27.2 for 2026, indicating a 1.6% year-over-year decline.
Over the past month, the company has witnessed three upward revisions in earnings estimates, with no revisions in the opposite direction.
Image Source: Zacks Investment Research
While the 2026 earnings estimate for The ALL and The PGR has moved northward over the past 30 days, the same for ACGL has moved south during the same period.
Factors Favoring Travelers
Auto insurance premiums have risen due to higher repair costs, risky driving, more litigation and increased claims. However, growth is expected to slow as insurers tighten underwriting and offer more customized, competitively priced policies. The homeowners insurance market still faces challenges from catastrophic losses, insurer withdrawals in high-risk areas and high premiums. Despite this, Travelers remains optimistic due to stricter underwriting, improving claims trends and more bundled auto-home policies.
Travelers’ investment income has grown steadily over the past five years, driven by strong returns from its expanding fixed-income portfolio and improved performance from non-fixed income investments. As a property-casualty insurer, Travelers favors fixed-income securities for stable and predictable cash flows to support claims payments. Approximately 94% of its investment portfolio is allocated to fixed maturities and short-term investments.
In line with the industry's ongoing technological transformation, Travelers has been harnessing cutting-edge technologies, including artificial intelligence, the Internet of Things, data analytics, and cloud computing, to enhance its underwriting, claims handling, customer experience and risk management capabilities. As part of its commitment to innovation, Travelers plans to invest more than $1 billion annually in technology to support continued advancement and operational efficiency.
The company maintains a strong balance sheet, with statutory capital and surplus of $31.06 billion at the end of 2025. Total capital returned to shareholders was $4.18 billion, comprising $3.2 billion of share repurchases and $987 million of dividends for the same period. Also, the board of directors approved a $5 billion share buyback program.
Conclusion
Despite trading at a premium to the industry, Travelers’ strong position in U.S. auto, homeowners, and commercial property-casualty insurance provides a solid base for future growth. Its history of strategic acquisitions further strengthens its market presence. Continued improvement in renewal rates, high customer retention and growth in new business — supported by a diversified portfolio and strong capital position — are expected to drive stable earnings growth.
TRV has a track record of 21 consecutive years of dividend increases, with a compound annual growth rate of 8% over that period. Its current dividend yield of 1.5% is much better than the industry average of 0.3%, making it an attractive pick for yield-seeking investors.
Given the premium valuation and near-term earnings pressure, it is better to stay cautious about this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks Top 10 Stocks for 2026
Hurry – you can still get in early on our 10 top tickers for 2026. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful.
From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2026. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

TRV Stock Up 4% YTD, Trades at 2.05X P/B: What Should Investors Know?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Dow Jones Industrial Average ETF Trust (Symbol: DIA) where we have detected an approximate $286.7 million dollar outflow -- that's a 0.7% decrease week over week (from 90,092,867 to 89,492,867). Among the largest underlying components of DIA, in trading today Home Depot Inc (Symbol: HD) is up about 0.6%, Sherwin-Williams Co (Symbol: SHW) is down about 0.8%, and Travelers Companies Inc (Symbol: TRV) is lower by about 0.5%. For a complete list of holdings, visit the DIA Holdings page » The chart below shows the one year price performance of DIA, versus its 200 day moving average:
Looking at the chart above, DIA's low point in its 52 week range is $366.32 per share, with $505.30 as the 52 week high point — that compares with a last trade of $477.40. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
IWM Historical Stock Prices
JPM Dividend History
Top Ten Hedge Funds Holding AINC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

DIA, HD, SHW, TRV: ETF Outflow Alert

Heritage Insurance HRTG is expected to witness an improvement in its top and bottom lines when it reports fourth-quarter 2025 results on March 9.
The Zacks Consensus Estimate for HRTG’s fourth-quarter revenues is pegged at $212.6 million, indicating a 1.1% increase from the year-ago reported figure.
The consensus estimate for earnings is pegged at $1.61 per share. The Zacks Consensus Estimate for HRTG’s fourth-quarter earnings witnessed 53.3% northbound movement in the past 30 days. The estimate suggests a year-over-year increase of 143.9%.
HRTG’s Solid Earnings Surprise History
HRTG’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 100.05%.
What the Zacks Model Unveils for HRTG
Our proven model predicts a likely earnings beat for Heritage Insurance this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which increases the chances of an earnings beat.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: HRTG has an Earnings ESP of +24.61%. This is because the Most Accurate Estimate of $2.00 is pegged higher than the Zacks Consensus Estimate of $1.61.
Heritage Insurance Holdings, Inc. Price and EPS Surprise
Zacks Rank: HRTG currently has a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Shape HRTG’s Q4 Results
Heritage Insurance’s fourth-quarter performance is expected to have benefited from rate adequacy, controlled exposures and strengthened underwriting discipline, supported by the use of data and analytics. The company is also likely to have gained from its homeowners insurance segment, which has expanded across coastal regions of the Northeast and Mid-Atlantic.
Gross premiums earned are expected to have increased, driven by rate adequacy, organic growth and new business written across commercial, residential and surplus lines segments.
Premiums-in-force are also likely to have improved, supported by proactive rate increases and continued growth in the excess and surplus (E&S) business.
Net investment income is expected to have benefited from a high-quality portfolio of short-duration assets. The Zacks Consensus Estimate for the metric is currently pegged at $9.9 million.
Total revenues are likely to have increased, reflecting higher premiums as well as growth in net investment income.
The company’s strategy of reducing exposure in overly concentrated and underperforming markets while expanding in more profitable geographies and product lines is expected to have supported profitability.
Additionally, a well-structured reinsurance program, supported by prudent exposure management initiatives, likely helped the company manage catastrophe-related losses.
However, higher policy acquisition costs, along with increased general and administrative expenses, are expected to have pushed up the net expense ratio. The Zacks Consensus Estimate for the metric is pegged at 34.61.
The combined ratio is likely to have improved, driven by a lower loss ratio and expense ratio. The Zacks Consensus Estimate currently stands at 72.91.
Share repurchases are also likely to have provided additional support to the bottom line.
Recent P&C Insurance Releases
Arch Capital Group Ltd. ACGL reported fourth-quarter 2025 operating income of $2.98 per share, which beat the Zacks Consensus Estimate by 19.7%. The bottom line increased 31.9% year over year.
ACGL’s earnings beat estimates in each of the last four reported quarters.
The Travelers Companies TRV reported fourth-quarter 2025 core income of $11.13 per share, which beat the Zacks Consensus Estimate by 32% and improved 22% year over year.
TRV’s earnings beat estimates in each of the last four reported quarters.
Chubb Limited CB reported fourth-quarter 2025 core operating income of $7.52 per share, which beat the Zacks Consensus Estimate by 13.9%. The bottom line improved 24.9% year over year.
CB’s earnings beat estimates in each of the last four reported quarters.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Heritage Insurance Retain its Beat Streak in Q4 Earnings?

Investors in Travelers Companies Inc (Symbol: TRV) saw new options begin trading today, for the December 2027 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 651 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the TRV options chain for the new December 2027 contracts and identified one put and one call contract of particular interest.
The put contract at the $300.00 strike price has a current bid of $31.00. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $300.00, but will also collect the premium, putting the cost basis of the shares at $269.00 (before broker commissions). To an investor already interested in purchasing shares of TRV, that could represent an attractive alternative to paying $302.72/share today.
Because the $300.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 64%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 10.33% return on the cash commitment, or 5.79% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Travelers Companies Inc, and highlighting in green where the $300.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $320.00 strike price has a current bid of $33.50. If an investor was to purchase shares of TRV stock at the current price level of $302.72/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $320.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 16.77% if the stock gets called away at the December 2027 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if TRV shares really soar, which is why looking at the trailing twelve month trading history for Travelers Companies Inc, as well as studying the business fundamentals becomes important. Below is a chart showing TRV's trailing twelve month trading history, with the $320.00 strike highlighted in red:
Considering the fact that the $320.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 44%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 11.07% boost of extra return to the investor, or 6.20% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 27%, while the implied volatility in the call contract example is 22%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $302.72) to be 21%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
Computer Peripherals Dividend Stocks
Institutional Holders of WHR
Leidos Holdings shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

December 2027 Options Now Available For Travelers Companies (TRV)

Looking at the universe of stocks we cover at Dividend Channel, on 3/10/26, Weyerhaeuser Co (Symbol: WY), Arbor Realty Trust Inc (Symbol: ABR), and Travelers Companies Inc (Symbol: TRV) will all trade ex-dividend for their respective upcoming dividends. Weyerhaeuser Co will pay its quarterly dividend of $0.21 on 3/20/26, Arbor Realty Trust Inc will pay its quarterly dividend of $0.30 on 3/24/26, and Travelers Companies Inc will pay its quarterly dividend of $1.10 on 3/31/26. As a percentage of WY's recent stock price of $24.63, this dividend works out to approximately 0.85%, so look for shares of Weyerhaeuser Co to trade 0.85% lower — all else being equal — when WY shares open for trading on 3/10/26. Similarly, investors should look for ABR to open 3.49% lower in price and for TRV to open 0.36% lower, all else being equal.
Below are dividend history charts for WY, ABR, and TRV, showing historical dividends prior to the most recent ones declared.
Weyerhaeuser Co (Symbol: WY):
Arbor Realty Trust Inc (Symbol: ABR):
Travelers Companies Inc (Symbol: TRV):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.41% for Weyerhaeuser Co, 13.97% for Arbor Realty Trust Inc, and 1.43% for Travelers Companies Inc.
In Friday trading, Weyerhaeuser Co shares are currently off about 0.8%, Arbor Realty Trust Inc shares are off about 2.9%, and Travelers Companies Inc shares are down about 1.7% on the day.
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: Weyerhaeuser, Arbor Realty Trust and Travelers Companies

It has been about a month since the last earnings report for Travelers (TRV). Shares have added about 7.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Travelers due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Travelers Q4 Earnings Beat on Strong Net Investment Income
The Travelers Companies reported fourth-quarter 2025 core income of $11.13 per share, which beat the Zacks Consensus Estimate by 32% and improved 22% year over year. The improvement was primarily due to a higher underlying underwriting gain, improved net investment income, lower catastrophe losses, and higher net favorable prior year reserve development.
Behind Q4 Headlines
Travelers’ total revenues increased 3.2% from the year-ago quarter to $12.4 billion, primarily driven by higher premiums, net investment income, and other revenues. The top line beat the Zacks Consensus Estimate by 0.08%.
Net written premiums increased 1% year over year to a record $10.8 billion, driven by strong growth across Business Insurance and Bond & Specialty Insurance segments.
Net investment income increased 10.3% year over year to $1 billion, primarily due to growth in average invested assets and a higher average yield in the long-term fixed income investment portfolio. The figure matched the Zacks Consensus Estimate.
Catastrophe loss was $95 million, pre-tax, narrower than a loss of $175 million, pre-tax, incurred in the year-ago quarter.
Travelers witnessed an underwriting gain of $1.7 billion, up 21.7% year over year. The consolidated underlying combined ratio of 82.2 improved 180 basis points (bps) year over year. The combined ratio improved 300 bps year over year to 80.2, driven by an improvement in the underlying combined ratio, lower catastrophe losses, and higher net favorable prior year reserve development. The Zacks Consensus Estimate was pegged at 87.
Segment Update
Business Insurance: Net written premiums increased 2% year over year to about $5.5 billion, reflecting growth of 4% in Select Accounts small commercial business and 3% in core Middle Market business. It was partially offset by a decline in net written premiums in National Property, reflecting disciplined underwriting.
The combined ratio improved 80 bps year over year to 84.4 due to higher net favorable prior year reserve development and lower catastrophe losses. It was partially offset by a higher underlying combined ratio. The Zacks Consensus Estimate was pegged at 90.
Segment income of $1.3 billion increased 8.7% year over year, primarily due to higher net investment income, higher net favorable prior year reserve development, and lower catastrophe losses, partially offset by a lower underlying underwriting gain.
Bond & Specialty Insurance: Net written premiums increased 4% year over year to $1 billion, reflecting production growth in both surety and management liability.
The combined ratio deteriorated 30 bps year over year to 83 due to lower net favorable prior year reserve development. It was partially offset by a lower underlying combined ratio and lower catastrophe losses. The Zacks Consensus Estimate was pegged at 84.
Segment income of $236 million increased 3.5% year over year due to higher net investment income and a higher underlying underwriting gain. It was partially offset by lower net favorable prior year reserve development. The underlying underwriting gain benefited from higher business volumes.
Personal Insurance: Net written premiums of $4.2 billion remained flat year over year.
The combined ratio improved 670 bps year over year to 74% due to an improvement in the underlying combined ratio, lower catastrophe losses, and higher net favorable prior year reserve development. The Zacks Consensus Estimate was pegged at 85.
Segment income was $1 billion, up 36% year over year, driven by a higher underlying underwriting gain, lower catastrophe losses, higher net investment income and higher net favorable prior year reserve development.
Full-Year Highlights
Travelers reported 2025 core income of $27.59 per share, up 28% from 2024. The figure beat the Zacks Consensus Estimate of $24.89 per share.
Net written premiums increased 2% year over year to a record $44.4 billion.
Travelers witnessed an underwriting gain of $3.4 billion, which grew 42.6% year over year. The combined ratio of 89.9 improved 260 bps year over year.
Core return on equity expanded 220 basis points to 19.4%.
Adjusted book value per share of $158.01 was up 14% from 2024.
At 2025-end, statutory capital and surplus were $31.06 billion, and the debt-to-capital ratio was 22%, which improved 40 bps year over year.
Dividend and Share Repurchase Update
This property and casualty insurer returned $1.89 billion. Travelers repurchased 5.8 million shares in the fourth quarter for $1.65 billion. As of Dec. 31, 2025, TRV had $2.01 billion remaining under its share repurchase authorizations.
The board also authorized an additional $5 billion of share repurchases. This amount is in addition to the $2.01 billion. The board also announced a quarterly dividend of $1.10 per share. The dividend will be paid out on Mar 31, 2026, to shareholders of record at the close of business on Mar 10, 2026.
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a upward trend in fresh estimates.
VGM Scores
At this time, Travelers has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Travelers has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
See This Stock Now for Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Travelers (TRV) Up 7.7% Since Last Earnings Report: Can It Continue?

Travelers Companies Inc (Symbol: TRV) has been named as the ''Top Dividend Stock of the Dow'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the Dow Jones Industrial Average, TRV shares displayed both attractive valuation metrics and strong profitability metrics. The report also cited the strong quarterly dividend history at Travelers Companies Inc, and favorable long-term multi-year growth rates in key fundamental data points.
The report stated, ''Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That's what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most 'interesting' stocks, meant for investors as a source of ideas that merit further research.''
The Dow Jones Industrial Average dates back to 1896, and is one of the most widely followed indices of large, publicly owned companies based in the United States. Click here to see the most popular ETF that follows the Dow, and see all 30 components and their weights, at ETFChannel.com »
The current annualized dividend paid by Travelers Companies Inc is $4.4/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 03/10/2026. Below is a long-term dividend history chart for TRV, which the report stressed as being of key importance. Indeed, studying a company's past dividend history can be of good help in judging whether the most recent dividend is likely to continue.
Also see:
ISCB market cap history
MMP YTD Return
UTHY Options Chain

TRV Named 'Top Dividend Stock of the Dow' at Dividend Channel With 1.5% Yield

Principal Financial Group, Inc.’s PFG fourth-quarter 2025 operating net income of $2.19 per share missed the Zacks Consensus Estimate by 1.8%. The bottom line increased 13% year over year.
Total revenues jumped 9.2% year over year to $4.4 billion due to increased premiums and other considerations, fees, and other revenues and net investment income.
Principal Financial witnessed higher revenues across Retirement and Income Solution, Investment Management, Specialty Benefits, and Life Insurance segments, offset by higher expenses.
Principal Financial Group, Inc. Price, Consensus and EPS Surprise
Behind the Headlines
Total expenses increased 8.2% year over year to $3.9 billion due to higher benefits, claims and settlement expenses and operating expenses.
As of Dec. 31, 2025, Principal Financial’s assets under management amounted to $781 billion, which is included in the assets under administration of $1.8 trillion.
Segment Update
Retirement and Income Solution: Revenues increased 15.6% year over year to $2.5 billion because of higher premiums and other considerations, fees and other revenues, and net investment income.
Pre-tax operating earnings increased 7% year over year to $299.5 million, primarily due to higher net revenues and disciplined expense management.
Investment Management: Revenues of $482.7 million were up 1.7% from the prior-year quarter due to higher fees and other revenues and net investment income.
Pre-tax operating earnings increased 2% year over year to $166.7 million. The increase was primarily due to higher operating revenues less pass-through expenses. Operating margin remains unchanged year over year to 38.3%.
International Pension: Revenues decreased 9.6% year over year to $216.6 million, owing to lower premiums and other considerations, fees and other revenues, and net investment income.
Pre-Tax operating earnings of $64.9 million increased 25% year over year. The increase was due to higher net revenues and disciplined expense management.
Specialty Benefits: Revenues increased 2.8% year over year to $898.2 million, owing to higher premiums and other considerations as well as net investment income.
Pre-tax operating earnings of $142.1 million decreased 3% year over year. The decrease was primarily due to the favorable one-time model refinement impact in the fourth quarter of 2024.
Life Insurance: Revenues increased 5.1% year over year to $346.1 million, owing to higher premiums and other considerations, fees and other revenues, and net investment income.
Pre-tax operating earnings of $27.5 million surged more than threefold year over year. The increase was driven by growth in the business, expense management discipline, and improved mortality experience.
Corporate: Pre-tax operating losses of $102.8 million were narrower than a loss of $103.9 million incurred a year ago.
Financial Update
As of Dec. 31, 2025, cash and cash equivalents were $4.4 billion, which increased 5.2% from 2024-end.
At the fourth-quarter end, long-term debt was $3.9 billion, which declined 0.7% from 2024-end. As of Dec. 31, 2025, book value per share (excluding cumulative change in fair value of funds withheld embedded derivative and AOCI other than foreign currency translation adjustment) was $57.25, up 6.6% from 2024-end.
Dividend and Share Repurchase Update
Principal Financial returned $1.5 billion of capital to shareholders for 2025, including $0.9 billion of share repurchases and $0.7 billion of dividends.
The board of directors raised the first-quarter dividend by 7% to 80 cents per share. The dividend will be payable on March 27, 2026, to shareholders of record as of March 11.
Full-Year Highlights
For 2025, Principal Financial reported an operating net income of $8.27 per share, which missed the Zacks Consensus Estimate by 0.3%. However, it increased 19% year over year.
Total operating revenues of $15.93 billion increased 2% year over year.
2026 Guidance
Principal Financial expects 9-12% annual non-GAAP operating earnings per diluted share growth.
PFG estimates 75-85% free capital flow conversion.
It expects 15-17% non-GAAP return on equity.
The insurer projects $1.5-$1.8 billion capital deployment, which includes $0.8-$1.1 billion of share repurchases and a 40% dividend ratio.
Zacks Rank
Principal Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
CNA Financial Corporation CNA reported fourth-quarter 2025 core earnings of $1.16 per share, which missed the Zacks Consensus Estimate by 3.3%. The bottom line, however, decreased 7.2% year over year. Total operating revenues of CNA Financial were $3.4 billion, up 3.8% year over year due to higher premiums and net investment income. The top line missed the Zacks Consensus Estimate by 1.2%.
Net written premiums of Property & Casualty Operations increased 2% year over year to $2.8 billion. The new business was flat. Net investment income rose 1.4% year over year to $653 million. Our estimate for net investment was $721.2 million. The Zacks Consensus Estimate was pegged at $721 million.
The Travelers Companies, Inc. TRV reported fourth-quarter 2025 core income of $11.13 per share, which beat the Zacks Consensus Estimate by 32% and improved 22% year over year. Travelers’ total revenues increased 3.2% from the year-ago quarter to $12.4 billion, primarily driven by higher premiums, net investment income, and other revenues. The top line beat the Zacks Consensus Estimate by 0.08%.
Net written premiums increased 1% year over year to a record $10.8 billion. Net investment income increased 10.3% year over year to $1 billion. The figure matched the Zacks Consensus Estimate. Travelers witnessed an underwriting gain of $1.7 billion, up 21.7% year over year. The consolidated underlying combined ratio of 82.2 improved 180 bps year over year.
RLI Corp. RLI reported fourth-quarter 2025 operating earnings of 94 cents per share, which beat the Zacks Consensus Estimate by 23.6%. The bottom line increased 80.8% from the prior-year quarter. Operating revenues for the reported quarter were $449 million, up 3% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.
Gross premiums written decreased 2.1% year over year to $463.2 million. This can be attributed to the poor performance of the Property Segment. Our estimate was $505.2 million. Net investment income increased 9.2% year over year to $42.3 million. The Zacks Consensus Estimate was $42.9 million, while our estimate for the metric was pegged at $44.5 million. The investment portfolio’s total return was 1.5% in the quarter.
Just Released: Zacks Top 10 Stocks for 2026
Hurry – you can still get in early on our 10 top tickers for 2026. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful.
From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2026. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
RLI Corp. (RLI) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Principal Financial Q4 Earnings Miss, Revenues & Premiums Rise Y/Y

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Dow Jones Industrial Average ETF Trust (Symbol: DIA) where we have detected an approximate $268.9 million dollar outflow -- that's a 0.6% decrease week over week (from 89,042,867 to 88,492,867). Among the largest underlying components of DIA, in trading today Sherwin-Williams Co (Symbol: SHW) is up about 1.1%, Amgen Inc (Symbol: AMGN) is up about 2%, and Travelers Companies Inc (Symbol: TRV) is up by about 0.8%. For a complete list of holdings, visit the DIA Holdings page » The chart below shows the one year price performance of DIA, versus its 200 day moving average:
Looking at the chart above, DIA's low point in its 52 week range is $366.32 per share, with $497.76 as the 52 week high point — that compares with a last trade of $497.01. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
EBAY DMA
CHSCL Historical Stock Prices
Institutional Holders of CTCX
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Index	Bulls	Bears
Confidence		—
Support		—
Cash flows		—

	S/L 5%RUB 317.11	S/L 10%RUB 332.21	S/L 15%RUB 347.31
Day	0.00%	0.00%	0.00%
Week	5.81%	0.02%	0.00%
Month	35.52%	6.64%	0.68%

The Travelers Companies, Inc.

Market sentiment

Overall assessment

Share of longs and shorts

Long

Short

Momentum

Protective stop levels