Cooke & Bieler LP raised its stake in shares of Chubb Corp. (NYSE:CB) by 37.7% during the second quarter, Holdings Channel reports. The fund owned 583,427 shares of the company’s stock after buying an additional 159,607 shares during the period. Chubb Corp. accounts for 1.7% of Cooke & Bieler LP’s portfolio, making the stock its 25th largest position. Cooke & Bieler LP’s holdings in Chubb Corp. were worth $76,260,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC raised its position in Chubb Corp. by 31.6% in the second quarter. FNY Managed Accounts LLC now owns 987 shares of the company’s stock valued at $129,000 after buying an additional 237 shares during the last quarter. Integrated Investment Consultants LLC raised its position in Chubb Corp. by 14.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,011 shares of the company’s stock valued at $132,000 after buying an additional 128 shares during the last quarter. North American Management Corp acquired a new position in Chubb Corp. during the second quarter valued at about $202,000. Roberts Glore & Co. Inc. IL acquired a new position in Chubb Corp. during the second quarter valued at about $203,000. Finally, Daiwa SB Investments Ltd. raised its position in Chubb Corp. by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 1,650 shares of the company’s stock valued at $211,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.
Chubb Corp. (NYSE:CB) traded down 0.14% during midday trading on Monday, reaching $125.68. 868,820 shares of the company’s stock were exchanged. Chubb Corp. has a 12-month low of $106.82 and a 12-month high of $131.00. The stock has a market capitalization of $58.45 billion, a price-to-earnings ratio of 20.82 and a beta of 1.02. The stock’s 50-day moving average is $125.48 and its 200-day moving average is $124.89.
Chubb Corp. (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share 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 business earned $7.64 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the previous year, the company posted $2.08 EPS. Chubb Corp.’s revenue for the quarter was up 59.7% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Friday, September 30th will be given a $0.69 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.76 annualized dividend and a dividend yield of 2.20%. Chubb Corp.’s payout ratio is presently 44.37%.
Several equities analysts have recently issued reports on the stock. MKM Partners reiterated a “buy” rating and set a $150.00 target price (up from $140.00) on shares of Chubb Corp. in a report on Friday, July 15th. Zacks Investment Research downgraded shares of Chubb Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Morgan Stanley raised their price target on shares of Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Citigroup Inc. reissued a “neutral” rating on shares of Chubb Corp. in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG set a $136.00 price target on shares of Chubb Corp. and gave the company a “buy” rating in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $132.14.
In other 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 bought at an average price of $125.95 per share, with a total value of $1,350,813.75. Following the completion of the transaction, the director now directly owns 5,779 shares of the company’s stock, valued at approximately $727,865.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David H. Sidwell bought 830 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average cost of $124.90 per share, with a total value of $103,667.00. Following the transaction, the director now directly owns 7,386 shares of the company’s stock, valued at $922,511.40. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by insiders.
Chubb Corp. Company Profile
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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