Q3 2016 Earnings Forecast for Chubb Corp. Issued By Langen Mcalenn (CB)
Chubb Corp. (NYSE:CB) – Langen Mcalenn increased their Q3 2016 EPS estimates for shares of Chubb Corp. in a report released on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the brokerage will post earnings per share of $2.80 for the quarter, up from their previous forecast of $2.63. Langen Mcalenn also issued estimates for Chubb Corp.’s FY2016 earnings at $9.67 EPS.
A number of other equities analysts have also weighed in on CB. Citigroup Inc. restated a “neutral” rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. BMO Capital Markets lowered Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 target price on the stock. 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. Morgan Stanley increased their price objective on Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research lowered Chubb Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. One 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. Chubb Corp. presently has a consensus rating of “Buy” and a consensus target price of $131.67.
Chubb Corp. (NYSE:CB) opened at 125.85 on Friday. The company has a 50 day moving average price of $125.48 and a 200-day moving average price of $124.89. Chubb Corp. has a 1-year low of $106.82 and a 1-year high of $131.00. The firm 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 posted its quarterly earnings data on Tuesday, July 26th. The company reported $2.25 EPS for the quarter, missing the Zacks’ consensus estimate of $2.45 by $0.20. The company earned $7.64 billion during the quarter, compared to analyst estimates of $7.40 billion. Chubb Corp. had a return on equity of 9.92% and a net margin of 9.35%. Chubb Corp.’s revenue was up 59.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Moors & Cabot Inc. raised its stake in Chubb Corp. by 0.3% in the second quarter. Moors & Cabot Inc. now owns 6,513 shares of the company’s stock worth $856,000 after buying an additional 17 shares during the last quarter. Hanson McClain Inc. raised its stake in shares of Chubb Corp. by 1.5% in the second quarter. Hanson McClain Inc. now owns 1,472 shares of the company’s stock valued at $192,000 after buying an additional 22 shares during the last quarter. Boston Family Office LLC raised its stake in shares of Chubb Corp. by 0.3% in the second quarter. Boston Family Office LLC now owns 9,362 shares of the company’s stock valued at $1,224,000 after buying an additional 25 shares during the last quarter. Athena Capital Advisors LLC raised its stake in shares of Chubb Corp. by 0.6% in the second quarter. Athena Capital Advisors LLC now owns 4,693 shares of the company’s stock valued at $613,000 after buying an additional 26 shares during the last quarter. Finally, Motco raised its stake in shares of Chubb Corp. by 3.5% in the second quarter. Motco now owns 915 shares of the company’s stock valued at $120,000 after buying an additional 31 shares during the last quarter. 87.25% of the stock is owned by institutional investors.
In related news, Director David H. Sidwell acquired 830 shares of Chubb Corp. stock in a transaction that occurred on Monday, September 26th. The stock was bought at an average price of $124.90 per share, with a total value of $103,667.00. Following the transaction, the director now directly owns 7,386 shares in the company, valued at $922,511.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Scully acquired 10,725 shares of Chubb Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average cost of $125.95 per share, with a total value of $1,350,813.75. Following the transaction, the director now owns 5,779 shares in the company, valued at $727,865.05. The disclosure for this purchase can be found here. 0.43% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 30th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Wednesday, September 28th. Chubb Corp.’s payout ratio is presently 44.37%.
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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