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Travelers (TRV) Stock Lower as Q3 Profit Tumbles

NEW YORK (TheStreet) -- Shares of Travelers (TRV) were declining in early-morning trading on Thursday after reporting a fourth-straight decline in quarterly profit as weather-related costs increased and investment income fell.

Before the market open, the property-casualty insurer announced that net income dropped 23% year-over-year to $716 million, or $2.45 a share for the third quarter.

Operating profit declined to $2.40 a share from $2.93 a share in the year-ago period, but topped analysts' estimates of $2.38 per share.

Net investment income slumped to $472 million...