Langen Mcalenn Research Analysts Increase Earnings Estimates for Chubb Corp. (CB)
Chubb Corp. (NYSE:CB) – Analysts at Langen Mcalenn raised their Q3 2016 earnings per share estimates for shares of Chubb Corp. in a research note issued on Thursday. Langen Mcalenn analyst L. Greenberg now anticipates that the brokerage will earn $2.63 per share for the quarter, up from their previous estimate of $2.55. Langen Mcalenn also issued estimates for Chubb Corp.’s FY2016 earnings at $9.90 EPS, Q1 2017 earnings at $2.53 EPS, Q3 2017 earnings at $2.62 EPS and Q4 2017 earnings at $2.73 EPS.
Chubb Corp. (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by $0.20. The business earned $7.64 billion during the quarter, compared to the consensus estimate of $7.40 billion. Chubb Corp. had a return on equity of 9.92% and a net margin of 9.35%. The business’s quarterly revenue was up 59.7% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS.
A number of other research firms also recently commented on CB. BMO Capital Markets downgraded 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 report on Monday, July 11th. They noted that the move was a valuation call. MKM Partners reissued a “buy” rating and issued a $150.00 price target (up previously from $140.00) on shares of Chubb Corp. in a research note on Friday, July 15th. Zacks Investment Research cut shares of Chubb Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Morgan Stanley increased their price target on shares of Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. One research 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’s stock. Chubb Corp. presently has an average rating of “Buy” and a consensus price target of $130.13.
Chubb Corp. (NYSE:CB) opened at 125.16 on Monday. The company has a 50-day moving average of $126.20 and a 200-day moving average of $124.31. The company has a market cap of $58.21 billion, a P/E ratio of 20.73 and a beta of 1.00. Chubb Corp. has a 52 week low of $100.11 and a 52 week high of $131.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 30th will be given a $0.69 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.76 annualized dividend and a yield of 2.21%. Chubb Corp.’s dividend payout ratio is presently 44.37%.
In other news, Director Robert W. Scully acquired 10,725 shares of Chubb Corp. stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $125.95 per share, for a total transaction of $1,350,813.75. Following the acquisition, the director now owns 5,779 shares of the company’s stock, valued at $727,865.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sean Ringsted sold 15,570 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $125.00, for a total transaction of $1,946,250.00. Following the completion of the sale, the executive vice president now owns 169,762 shares in the company, valued at $21,220,250. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CB. Evercore Wealth Management LLC raised its stake in shares of Chubb Corp. by 0.4% in the second quarter. Evercore Wealth Management LLC now owns 431,640 shares of the company’s stock worth $56,420,000 after buying an additional 1,671 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Chubb Corp. by 13.8% in the second quarter. Macquarie Group Ltd. now owns 118,094 shares of the company’s stock worth $15,436,000 after buying an additional 14,294 shares during the last quarter. Williams Jones & Associates LLC raised its stake in shares of Chubb Corp. by 118.7% in the second quarter. Williams Jones & Associates LLC now owns 88,430 shares of the company’s stock worth $11,559,000 after buying an additional 47,990 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Chubb Corp. during the second quarter worth $2,451,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of Chubb Corp. during the second quarter worth $5,163,000. Institutional investors and hedge funds own 87.24% of the company’s stock.
Chubb Corp. Company Profile
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