Piper Jaffray Maintains Neutral on Chubb

Piper Jaffray is out with its report today on Chubb

, maintaining Neutral. In its report, Piper Jaffray writes, "Chubb Corporation's release of estimated catastrophe and storm losses, by-and-large, set the tone for the property-casualty's 3Q 2011 earnings. Specifically for Chubb, loss estimates range from an after-tax $0.90 to $1.07 per share primarily due to Hurricane Irene, though Chubb's numbers also reflect sizeable losses from eight other cat events during the quarter. We maintain our Neutral rating on the shares." Piper Jaffray maintains a $64 PT on CB. Shares of CB closed Wednesday at $58.94, down 1.64% from Tuesday's close.