Chubb Corp Offers Optimistic Outlook Following Sandy-Slowed Q4 Results (CB)

Chubb Corp Offers Optimistic Outlook Following Sandy-Slowed Q4 Results (CB)

RSS

Property and casualty insurance provider The Chubb Corporation (CB) on late Thursday posted a steep downturn in fourth quarter earnings, as results were weighed down by effects from Superstorm Sandy.

Still, CB offered an upbeat 2013 outlook that easily beat Wall Street’s expectations.

The Warren, NJ-based company reported fourth quarter net income of $102 million, or 38 cents per share, compared with $452 million, or $1.60 per share, in the year-ago period. Excluding special items, adjusted profit was 16 cents per share.

Net premiums written fell almost 2% from last year to $2.91 billion.

On average, Wall Street analysts expected a net loss of 45 cents per share, on higher net premiums written of $3.02 billion.

Looking ahead, CB forecast 2013 full-year adjusted earnings to range from $6.40 to $6.80 per share, which is well above analysts’ view of $6.26 per share for the year.

Chubb Corp. shares were mostly flat in premarket trading Friday. The shares have gained about 19% over the past twelve months.

The Bottom Line
Shares of Cb currently offer a 2.04% dividend yield, based on the company’s annualized dividend payout of $1.64 and the stock’s Thursday closing price of $80.31.

The Chubb Corporation (CB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 0.0 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.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today