Atlantic Equities analyst John Heagerty downgraded Chubb to Underweight saying ROE of approximately 10% and modest BVPS growth of 6-7% pa does not merit a premium valuation. Heagerty's believes there is downside risks to investment returns given record low bond yields and believes a more appropriate multiple of 1.1x book value, or a valuation of $115, is warranted and not the current premium of 1.2x.
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here