Diligent Investors LLC Has $253,000 Position in Chubb Corp. (CB)
Diligent Investors LLC raised its stake in Chubb Corp. (NYSE:CB) by 3.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,933 shares of the company’s stock after buying an additional 64 shares during the period. Diligent Investors LLC’s holdings in Chubb Corp. were worth $253,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CB. FNY Managed Accounts LLC raised its position in shares of Chubb Corp. by 31.6% in the second quarter. FNY Managed Accounts LLC now owns 987 shares of the company’s stock valued at $129,000 after buying an additional 237 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Chubb Corp. by 14.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,011 shares of the company’s stock valued at $132,000 after buying an additional 128 shares in the last quarter. Howard Hughes Medical Institute bought a new position in shares of Chubb Corp. during the first quarter valued at $133,000. North American Management Corp bought a new position in shares of Chubb Corp. during the second quarter valued at $202,000. Finally, Daiwa SB Investments Ltd. raised its position in shares of Chubb Corp. by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 1,650 shares of the company’s stock valued at $211,000 after buying an additional 130 shares in the last quarter. 87.25% of the stock is currently owned by institutional investors.
Chubb Corp. (NYSE:CB) traded down 1.05% during mid-day trading on Thursday, reaching $121.88. 2,307,539 shares of the company’s stock traded hands. The stock has a 50 day moving average of $125.82 and a 200 day moving average of $124.74. The company has a market cap of $56.68 billion, a P/E ratio of 20.19 and a beta of 1.02. Chubb Corp. has a 12-month low of $104.00 and a 12-month high of $131.00.
Chubb Corp. (NYSE:CB) last issued its earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by $0.20. The firm 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 period last year, the firm posted $2.08 earnings per share. On average, equities research analysts predict that Chubb Corp. will post $9.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders 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 yield of 2.26%. Chubb Corp.’s dividend payout ratio (DPR) is presently 44.37%.
Several brokerages have recently weighed in on CB. Morgan Stanley upped their price objective on shares of Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Zacks Investment Research downgraded shares of Chubb Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. MKM Partners reissued a “buy” rating and set a $150.00 target price (up from $140.00) on shares of Chubb Corp. in a research report on Friday, July 15th. 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 report on Monday, July 11th. They noted that the move was a valuation call. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Chubb Corp. in a research report on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. Chubb Corp. currently has an average rating of “Buy” and a consensus price target of $131.67.
In other news, EVP Sean Ringsted sold 15,570 shares of Chubb Corp. stock in a transaction that occurred 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 sale, the executive vice president now directly owns 169,762 shares in the company, valued at $21,220,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Scully purchased 10,725 shares of Chubb Corp. 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 completion of the purchase, the director now directly owns 5,779 shares of the company’s stock, valued at $727,865.05. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by company insiders.
About Chubb Corp.
Chubb Limited (Chubb), formerly ACE Limited, is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products to insureds across the world. The Company’s segments include North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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