Hudson Canyon Investment Counselors LLC Buys Shares of 9,485 Chubb Corp. (CB)
Hudson Canyon Investment Counselors LLC bought a new position in shares of Chubb Corp. (NYSE:CB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,485 shares of the company’s stock, valued at approximately $1,240,000.
Other hedge funds also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC boosted 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 worth $129,000 after buying an additional 237 shares during the period. Integrated Investment Consultants LLC boosted 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 worth $132,000 after buying an additional 128 shares during the period. Howard Hughes Medical Institute acquired a new position in Chubb Corp. during the first quarter worth approximately $133,000. North American Management Corp acquired a new position in Chubb Corp. during the second quarter worth approximately $202,000. Finally, Daiwa SB Investments Ltd. boosted 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 worth $211,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Shares of Chubb Corp. (NYSE:CB) traded down 1.15% on Monday, reaching $124.21. The company’s stock had a trading volume of 1,033,233 shares. The company’s 50 day moving average price is $126.06 and its 200 day moving average price is $124.65. The company has a market cap of $57.77 billion, a P/E ratio of 20.57 and a beta of 1.02. Chubb Corp. has a 12-month low of $102.93 and a 12-month high of $131.00.
Chubb Corp. (NYSE:CB) last released its quarterly earnings data on Tuesday, July 26th. The company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by $0.20. The company earned $7.64 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Chubb Corp. had a return on equity of 9.92% and a net margin of 9.35%. The firm’s quarterly revenue was up 59.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 EPS. Analysts forecast that Chubb Corp. will post $9.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 30th will be issued 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 2.22%. Chubb Corp.’s dividend payout ratio is currently 44.37%.
A number of equities analysts have recently commented on CB shares. Atlantic Securities cut Chubb Corp. from a “neutral” rating to an “underweight” rating and set a $115.00 price target for the company. in a report on Thursday, June 16th. Zacks Investment Research cut Chubb Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. BMO Capital Markets cut Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 target price for the company. in a report on Monday, July 11th. They noted that the move was a valuation call. Credit Suisse Group AG set a $136.00 target price on Chubb Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Finally, Barclays PLC upped their target price on Chubb Corp. from $133.00 to $139.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $131.67.
In other Chubb Corp. news, Director Robert W. Scully purchased 10,725 shares of Chubb Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $125.95 per share, for a total transaction of $1,350,813.75. Following the acquisition, the director now directly owns 5,779 shares in the company, valued at $727,865.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean Ringsted sold 15,570 shares of the business’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 transaction, the executive vice president now owns 169,762 shares in the company, valued at approximately $21,220,250. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.
Chubb Corp. Company Profile
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