FBR Capital Maintains a 'Market Perform' on Chubb Corporation (CB); Great Start to the Year, But Seeing Upside Elsewhere
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Price: $343.64 -0.25%
Rating Summary:
9 Buy, 22 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 22 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Chubb Corporation (NYSE: CB), PT $67.
FBR analyst says, "On April 21, 2011, CB reported 1Q11 operating EPS of $1.35, exceeding the consensus estimate of $1.14. Despite suffering $270 million of pretax catastrophe losses, the company still managed to produce a 10% operating ROE in the quarter. The outlook for Chubb appears to be improving. Premiums expanded 3%, with U.S. volumes up 1% and international business expanding 10%. The star performer in the quarter was the commercial lines segment, where the top line increased 7%, driven by a number of factors. Renewal retention has been strong, with roughly 87% of business being retained...Shares are currently trading at almost 1.2x book value, which is somewhat attractive given the strong franchise value. We are maintaining our $67 price target and Market Perform rating, however, as we see greater upside in other large-cap insurance names."
For more ratings news on Chubb Corporation click here and for the rating history of Chubb Corporation click here.
Shares of Chubb Corporation closed at $61.56 yesterday.
FBR analyst says, "On April 21, 2011, CB reported 1Q11 operating EPS of $1.35, exceeding the consensus estimate of $1.14. Despite suffering $270 million of pretax catastrophe losses, the company still managed to produce a 10% operating ROE in the quarter. The outlook for Chubb appears to be improving. Premiums expanded 3%, with U.S. volumes up 1% and international business expanding 10%. The star performer in the quarter was the commercial lines segment, where the top line increased 7%, driven by a number of factors. Renewal retention has been strong, with roughly 87% of business being retained...Shares are currently trading at almost 1.2x book value, which is somewhat attractive given the strong franchise value. We are maintaining our $67 price target and Market Perform rating, however, as we see greater upside in other large-cap insurance names."
For more ratings news on Chubb Corporation click here and for the rating history of Chubb Corporation click here.
Shares of Chubb Corporation closed at $61.56 yesterday.
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