Sippican Capital Advisors Cuts Position in Chubb Corp. (CB)
Sippican Capital Advisors decreased its position in Chubb Corp. (NYSE:CB) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 9,871 shares of the company’s stock after selling 221 shares during the period. Chubb Corp. makes up 1.5% of Sippican Capital Advisors’ investment portfolio, making the stock its 24th largest position. Sippican Capital Advisors’ holdings in Chubb Corp. were worth $1,290,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of CB. Wellington Management Group LLP increased its position 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. JPMorgan Chase & Co. increased its position in Chubb Corp. by 269.4% in the first quarter. JPMorgan Chase & Co. now owns 20,089,163 shares of the company’s stock worth $2,393,625,000 after buying an additional 14,651,182 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Chubb Corp. by 93.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,974,022 shares of the company’s stock worth $1,426,705,000 after buying an additional 5,775,509 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Chubb Corp. by 714.0% in the first quarter. TIAA CREF Investment Management LLC now owns 4,707,058 shares of the company’s stock worth $560,846,000 after buying an additional 4,128,821 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Chubb Corp. by 81.1% in the first quarter. BlackRock Fund Advisors now owns 6,175,979 shares of the company’s stock worth $735,868,000 after buying an additional 2,765,449 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.
Chubb Corp. (NYSE:CB) traded up 0.76% on Thursday, reaching $127.45. 953,442 shares of the company’s stock were exchanged. The company has a market capitalization of $59.27 billion, a P/E ratio of 21.11 and a beta of 1.00. Chubb Corp. has a 1-year low of $100.11 and a 1-year high of $131.00. The firm has a 50-day moving average price of $126.30 and a 200-day moving average price of $124.35.
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 firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same quarter last year, the firm earned $2.08 EPS. The company’s revenue was up 59.7% on a year-over-year basis. Equities research analysts expect that Chubb Corp. will post $9.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.17%. The ex-dividend date is Wednesday, September 28th. Chubb Corp.’s dividend payout ratio (DPR) is presently 44.37%.
A number of equities analysts have recently issued reports on CB shares. Atlantic Securities downgraded shares of Chubb Corp. from a “neutral” rating to an “underweight” rating and set a $115.00 price objective on the stock. in a research note on Thursday, June 16th. Citigroup Inc. restated a “neutral” rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. BMO Capital Markets downgraded shares of Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 target price for the company. in a research note on Monday, July 11th. They noted that the move was a valuation call. MKM Partners restated a “buy” rating and issued a $150.00 target price (up from $140.00) on shares of Chubb Corp. in a research note on Friday, July 15th. Finally, Morgan Stanley raised their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $130.13.
In other news, EVP Sean Ringsted sold 15,570 shares of the company’s stock in a transaction on 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 owns 169,762 shares in the company, valued at approximately $21,220,250. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Scully bought 10,725 shares of the stock in a transaction dated 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 acquisition, the director now owns 5,779 shares in the company, valued at approximately $727,865.05. The disclosure for this purchase can be found here. Company insiders own 0.43% of the company’s stock.
Chubb Corp. Company Profile
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