Trillium Asset Management LLC reduced its position in shares of Chubb Corp. (NYSE:CB) by 24.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,866 shares of the company’s stock after selling 1,552 shares during the period. Trillium Asset Management LLC’s holdings in Chubb Corp. were worth $636,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Chubb Corp. during the fourth quarter worth approximately $33,774,000. Royal Bank of Canada raised its stake in shares of Chubb Corp. by 209.0% in the first quarter. Royal Bank of Canada now owns 967,773 shares of the company’s stock worth $115,310,000 after buying an additional 654,609 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Chubb Corp. by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 126,290 shares of the company’s stock worth $16,507,000 after buying an additional 4,589 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of Chubb Corp. by 520.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 90,551 shares of the company’s stock worth $11,836,000 after buying an additional 75,966 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Chubb Corp. during the first quarter worth approximately $2,624,000. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Shares of Chubb Corp. (NYSE:CB) traded up 2.09% during mid-day trading on Friday, reaching $124.43. The company’s stock had a trading volume of 2,489,654 shares. The firm has a market capitalization of $57.87 billion, a P/E ratio of 20.61 and a beta of 1.02. Chubb Corp. has a 1-year low of $105.40 and a 1-year high of $131.00. The company’s 50-day moving average is $125.62 and its 200 day moving average is $124.74.
Chubb Corp. (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.45 by $0.20. Chubb Corp. had a net margin of 9.35% and a return on equity of 9.92%. The business earned $7.64 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up 59.7% compared to the same quarter last year. On average, analysts expect that Chubb Corp. will post $9.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be paid a $0.69 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.22%. Chubb Corp.’s dividend payout ratio (DPR) is presently 44.37%.
CB has been the topic of a number of recent research reports. Barclays PLC upped their target price on Chubb Corp. from $133.00 to $139.00 and gave the company an “overweight” rating in a research report on Friday, September 30th. Atlantic Securities lowered Chubb Corp. from a “neutral” rating to an “underweight” rating and set a $115.00 price objective on the stock. in a research report on Thursday, June 16th. Credit Suisse Group AG set a $136.00 price objective on Chubb Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research lowered Chubb Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Chubb Corp. in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $131.67.
In related news, EVP Sean Ringsted sold 15,570 shares of Chubb Corp. stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $125.00, for a total transaction of $1,946,250.00. Following the completion of the transaction, the executive vice president now directly owns 169,762 shares of the company’s stock, valued at $21,220,250. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Scully acquired 10,725 shares of Chubb Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $125.95 per share, with a total value of $1,350,813.75. Following the completion of the acquisition, the director now owns 5,779 shares of the company’s stock, valued at approximately $727,865.05. The disclosure for this purchase can be found here. 0.43% of the stock is owned by corporate insiders.
About Chubb Corp.
Chubb Limited (Chubb), formerly ACE Limited, is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products to insureds across the world. The Company’s segments include North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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