According to Zacks, “Chubb stands a good chance of taking leadership in the P&C space benefiting from complementary products and services. It’s inorganic growth story seems impressive and should help it achieve higher long-term ROE. A strong capital position helps Chubb to engage in shareholder friendly moves and invest in strategic initiatives that drive growth. Recently, Chubb announced that its enterprise-wide insurance solution, Integrity+, will now be available in Canada. The latest policy will protect Canadian companies from errors and omissions (E&O) liability customer lawsuits. Chubb expects third quarter investment income between $820-830 million. However, the company’s exposure to cat loss and a low interest rate environment are headwinds. Rising expenses and eroding margins are concerns.”
Several other research analysts have also commented on the company. Atlantic Securities lowered Chubb Corp. from a neutral rating to an underweight rating and set a $115.00 price target on the stock. in a report on Thursday, June 16th. BMO Capital Markets lowered Chubb Corp. from an outperform rating to a market perform rating and set a $136.00 price target on the stock. in a report on Monday, July 11th. They noted that the move was a valuation call. Barclays PLC lifted their price target on Chubb Corp. from $133.00 to $139.00 and gave the stock an overweight rating in a report on Friday, September 30th. Credit Suisse Group AG set a $136.00 price target on Chubb Corp. and gave the stock a buy rating in a report on Monday, September 12th. Finally, Citigroup Inc. reissued a neutral rating on shares of Chubb Corp. in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $131.67.
Shares of Chubb Corp. (NYSE:CB) opened at 123.74 on Friday. Chubb Corp. has a 1-year low of $105.40 and a 1-year high of $131.00. The company has a 50-day moving average of $125.50 and a 200-day moving average of $124.84. The stock has a market capitalization of $57.55 billion, a price-to-earnings ratio of 20.50 and a beta of 1.02.
Chubb Corp. (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.45 by $0.20. Chubb Corp. had a return on equity of 9.92% and a net margin of 9.35%. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The firm’s revenue was up 59.7% on a year-over-year basis. On average, equities research analysts expect that Chubb Corp. will post $9.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 30th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Wednesday, September 28th. Chubb Corp.’s dividend payout ratio is presently 44.37%.
In other Chubb Corp. news, Director Robert W. Scully bought 10,725 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $125.95 per share, for a total transaction of $1,350,813.75. Following the completion of the purchase, the director now directly owns 5,779 shares in the company, valued at $727,865.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean Ringsted sold 15,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $125.00, for a total value of $1,946,250.00. Following the sale, the executive vice president now owns 169,762 shares of the company’s stock, valued at approximately $21,220,250. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
A number of large investors have recently bought and sold shares of CB. Norges Bank acquired a new stake in Chubb Corp. during the fourth quarter valued at $33,774,000. Royal Bank of Canada boosted its stake in Chubb Corp. by 209.0% in the first quarter. Royal Bank of Canada now owns 967,773 shares of the company’s stock valued at $115,310,000 after buying an additional 654,609 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Chubb Corp. by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 126,290 shares of the company’s stock valued at $16,507,000 after buying an additional 4,589 shares during the last quarter. Grisanti Capital Management LLC acquired a new stake in Chubb Corp. during the second quarter valued at $12,890,000. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Chubb Corp. by 520.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 90,551 shares of the company’s stock valued at $11,836,000 after buying an additional 75,966 shares during the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.
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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