Essex Financial Services Inc. lowered its position in Chubb Corp. (NYSE:CB) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,570 shares of the company’s stock after selling 149 shares during the period. Essex Financial Services Inc.’s holdings in Chubb Corp. were worth $1,774,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Chubb Corp. by 1,144.2% in the first quarter. Wellington Management Group LLP now owns 32,841,412 shares of the company’s stock worth $3,913,055,000 after buying an additional 30,201,897 shares in the last quarter. Geode Capital Management LLC increased its stake in Chubb Corp. by 101.2% in the first quarter. Geode Capital Management LLC now owns 3,709,659 shares of the company’s stock worth $441,104,000 after buying an additional 1,866,068 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Chubb Corp. by 193.3% in the first quarter. UBS Asset Management Americas Inc. now owns 2,284,749 shares of the company’s stock worth $272,228,000 after buying an additional 1,505,808 shares in the last quarter. American Century Companies Inc. increased its stake in Chubb Corp. by 8.4% in the second quarter. American Century Companies Inc. now owns 2,271,885 shares of the company’s stock worth $296,958,000 after buying an additional 175,687 shares in the last quarter. Finally, Altrinsic Global Advisors LLC bought a new stake in Chubb Corp. during the first quarter worth approximately $243,416,000. 87.25% of the stock is currently owned by hedge funds and other institutional investors.
Chubb Corp. (NYSE:CB) traded up 0.50% during midday trading on Friday, hitting $125.85. 1,403,419 shares of the stock traded hands. The company has a 50-day moving average price of $125.49 and a 200-day moving average price of $124.84. Chubb Corp. has a 1-year low of $106.82 and a 1-year high of $131.00. The firm has a market cap of $58.53 billion, a P/E ratio of 20.85 and a beta of 1.02.
Chubb Corp. (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $2.25 earnings per share for the quarter, missing the Thomson Reuters’ 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 had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter last year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 59.7% on a year-over-year basis. Analysts predict that Chubb Corp. will post $9.60 EPS for the current year.
The firm 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. The ex-dividend date is Wednesday, September 28th. This represents a $2.76 annualized dividend and a dividend yield of 2.19%. Chubb Corp.’s dividend payout ratio (DPR) is 44.37%.
CB has been the topic of a number of research analyst reports. MKM Partners reissued a “buy” rating and set a $150.00 price objective (up previously from $140.00) on shares of Chubb Corp. in a report on Friday, July 15th. BMO Capital Markets downgraded shares of Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 price objective on the stock. in a report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Chubb Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Credit Suisse Group AG set a $136.00 price target on shares of Chubb Corp. and gave the company a “buy” rating in a report on Monday, September 12th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Chubb Corp. in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Chubb Corp. presently has a consensus rating of “Buy” and an average price target of $131.67.
In other Chubb Corp. news, EVP Sean Ringsted sold 15,570 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $125.00, for a total value of $1,946,250.00. Following the completion of the transaction, the executive vice president now directly owns 169,762 shares in the company, valued at $21,220,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David H. Sidwell bought 830 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was purchased at an average price of $124.90 per share, with a total value of $103,667.00. Following the completion of the acquisition, the director now owns 7,386 shares of the company’s stock, valued at $922,511.40. The disclosure for this purchase can be found here. Insiders own 0.43% 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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