Chubb Corp. (CB) Stake Reduced by Atlas Brown Inc.
Atlas Brown Inc. decreased its position in Chubb Corp. (NYSE:CB) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,285 shares of the company’s stock after selling 114 shares during the period. Atlas Brown Inc.’s holdings in Chubb Corp. were worth $429,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. 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. North American Management Corp bought a new position in shares of Chubb Corp. during the second quarter valued at approximately $202,000. Guardian Life Insurance Co of America raised its position in shares of Chubb Corp. by 58.3% in the first quarter. Guardian Life Insurance Co of America now owns 1,705 shares of the company’s stock valued at $203,000 after buying an additional 628 shares in the last quarter. 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. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Chubb Corp. (NYSE:CB) traded up 0.50% during midday trading on Friday, reaching $125.85. The company’s stock had a trading volume of 1,403,419 shares. Chubb Corp. has a 1-year low of $106.82 and a 1-year high of $131.00. The company’s 50-day moving average price is $125.49 and its 200-day moving average price is $124.84. The company has a market capitalization of $58.53 billion, a price-to-earnings ratio of 20.85 and a beta of 1.02.
Chubb Corp. (NYSE:CB) last announced its earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by $0.20. Chubb Corp. had a net margin of 9.35% and a return on equity of 9.92%. The business earned $7.64 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was up 59.7% on a year-over-year basis. On average, analysts predict that Chubb Corp. will post $9.60 earnings per share for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.19%. Chubb Corp.’s dividend payout ratio (DPR) is 44.37%.
Several brokerages have commented on CB. 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. Zacks Investment Research lowered shares of Chubb Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. MKM Partners reiterated a “buy” rating and issued a $150.00 price target (up from $140.00) on shares of Chubb Corp. in a research note on Friday, July 15th. BMO Capital Markets lowered shares of Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 price target on the stock. in a research note on Monday, July 11th. They noted that the move was a valuation call. Finally, Citigroup Inc. reiterated 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 stock. Chubb Corp. currently has an average rating of “Buy” and a consensus target price of $131.67.
In other news, EVP Sean Ringsted sold 15,570 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 169,762 shares in the company, valued at approximately $21,220,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David H. Sidwell purchased 830 shares of the stock in a transaction dated Monday, September 26th. The stock was purchased at an average price of $124.90 per share, with a total value of $103,667.00. Following the completion of the acquisition, the director now directly owns 7,386 shares in the company, valued at approximately $922,511.40. The disclosure for this purchase can be found here. 0.43% of the stock is owned by insiders.
Chubb Corp. Company Profile
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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