Traders Buy Chubb Corp. (CB) on Weakness
Investors purchased shares of Chubb Corp. (NYSE:CB) on weakness during trading hours on Monday. $42.11 million flowed into the stock on the tick-up and $18.27 million flowed out of the stock on the tick-down, for a money net flow of $23.84 million into the stock. Of all equities tracked, Chubb Corp. had the 11th highest net in-flow for the day. Chubb Corp. traded down ($0.28) for the day and closed at $129.29
A number of brokerages recently issued reports on CB. JMP Securities increased their target price on shares of Chubb Corp. from $130.00 to $135.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 5th. Sterne Agee CRT reiterated a “buy” rating and set a $129.00 target price on shares of Chubb Corp. in a research report on Thursday, April 14th. MKM Partners restated a “buy” rating and issued a $150.00 price objective (up previously from $140.00) on shares of Chubb Corp. in a research report on Friday. Credit Suisse Group AG raised their price objective on shares of Chubb Corp. from $128.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, May 5th. Finally, BMO Capital Markets cut shares of Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 price objective for the company. in a research report on Monday, July 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $129.53.
The firm’s 50-day moving average price is $127.15 and its 200 day moving average price is $120.03. The company has a market cap of $60.05 billion and a PE ratio of 17.88.
Chubb Corp. (NYSE:CB) last posted its earnings results on Wednesday, May 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the prior year, the business earned $1.50 earnings per share. The company’s revenue was up 46.4% on a year-over-year basis. On average, equities research analysts expect that Chubb Corp. will post $9.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, June 30th will be issued a $0.69 dividend. The ex-dividend date is Tuesday, June 28th. This is a boost from Chubb Corp.’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.13%.
In other news, EVP Philip V. Bancroft sold 72,730 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $127.30, for a total value of $9,258,529.00. Following the completion of the transaction, the executive vice president now owns 327,278 shares of the company’s stock, valued at $41,662,489.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 39,943 shares of the stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $125.36, for a total transaction of $5,007,254.48. Following the completion of the transaction, the chief executive officer now directly owns 1,360,970 shares of the company’s stock, valued at approximately $170,611,199.20. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. UBS Oconnor LLC bought a new position in Chubb Corp. during the fourth quarter worth approximately $234,509,000. Wells Fargo & Company MN increased its position in Chubb Corp. by 30.1% in the fourth quarter. Wells Fargo & Company MN now owns 4,546,694 shares of the company’s stock valued at $603,073,000 after buying an additional 1,051,834 shares in the last quarter. Morgan Stanley increased its position in Chubb Corp. by 34.0% in the fourth quarter. Morgan Stanley now owns 3,676,944 shares of the company’s stock valued at $487,711,000 after buying an additional 932,602 shares in the last quarter. Water Island Capital purchased a new position in Chubb Corp. during the third quarter valued at about $114,373,000. Finally, Bank of Montreal Can increased its position in Chubb Corp. by 158.6% in the fourth quarter. Bank of Montreal Can now owns 992,822 shares of the company’s stock valued at $131,688,000 after buying an additional 608,856 shares in the last quarter.
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