Barclays PLC Raises Chubb Corp. (CB) Price Target to $139.00
Several other brokerages have also issued reports on CB. MKM Partners reiterated a buy rating and set a $150.00 price objective (up from $140.00) on shares of Chubb Corp. in a report on Friday, July 15th. BMO Capital Markets lowered 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. Zacks Investment Research upgraded Chubb Corp. from a sell rating to a hold rating in a report on Wednesday, August 31st. Credit Suisse Group AG set a $136.00 price objective on Chubb Corp. and gave the stock a buy rating in a report on Monday, September 12th. Finally, Citigroup Inc. reiterated a neutral rating on shares of Chubb Corp. in a report on Tuesday, June 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $131.67.
Shares of Chubb Corp. (NYSE:CB) opened at 122.96 on Friday. The firm has a market cap of $57.19 billion, a PE ratio of 20.37 and a beta of 1.02. Chubb Corp. has a 52 week low of $103.48 and a 52 week high of $131.00. The firm’s 50-day moving average price is $125.91 and its 200 day moving average price is $124.75.
Chubb Corp. (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $7.40 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Chubb Corp.’s revenue was up 59.7% on a year-over-year basis. Equities analysts anticipate that Chubb Corp. will post $9.53 EPS 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. This represents a $2.76 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, September 28th. Chubb Corp.’s dividend payout ratio is currently 44.37%.
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 shares were acquired at an average cost 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 in the company, valued at $727,865.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Ringsted sold 15,570 shares of Chubb Corp. stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $125.00, for a total value of $1,946,250.00. Following the sale, the executive vice president now directly 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 owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake 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 during the period. JPMorgan Chase & Co. increased its stake 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 during the period. BlackRock Institutional Trust Company N.A. increased its stake 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 during the period. TIAA CREF Investment Management LLC increased its stake 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 during the period. Finally, BlackRock Fund Advisors increased its stake 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 during the period. 87.25% of the stock is currently owned by institutional investors and hedge funds.
About Chubb Corp.
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