Chubb Corp Downgraded to “Hold” at Deutsche Bank on P&C Industry Concerns (CB)

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Property and casualty insurance provider The Chubb Corporation ( CB ) on Thursday caught a downgrade from analysts at Deutsche Bank.

The firm said it downgraded CB from "Buy" to "Hold" on lower expectations for the P&C insurance sector.

A Deutsche analyst commented, "We are increasingly cautious view of the P&C industry-expectations of declining earnings combined with skepticism that we are nowhere near to witnessing meaningful pricing improvements-we are lowering our recommendation to Hold. The stock has appreciated to where it offers only modest appreciation, against a background where earnings are poised to decline in 2011 to $5.30 per share."

Chubb Corp shares fell 69 cents, or -1.2%, in premarket trading Thursday.

The Bottom Line
Shares of Chubb Corp ( CB ) have a 2.54% dividend yield, based on last night's closing stock price of $58.18. The stock has technical support in the $54-$56 price area. The shares are trading near all-time highs of$60 a share.

The Chubb Corporation ( CB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CB

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