Hanson & Doremus Investment Management Decreases Stake in Chubb Corp. (CB)
Hanson & Doremus Investment Management reduced its stake in shares of Chubb Corp. (NYSE:CB) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 804 shares of the company’s stock after selling 54 shares during the period. Hanson & Doremus Investment Management’s holdings in Chubb Corp. were worth $105,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC increased 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 valued at $129,000 after buying an additional 237 shares in the last quarter. Integrated Investment Consultants LLC increased 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 valued at $132,000 after buying an additional 128 shares in the last quarter. North American Management Corp purchased a new position in Chubb Corp. during the second quarter valued at $202,000. Guardian Life Insurance Co of America increased its position in 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, Roberts Glore & Co. Inc. IL purchased a new position in Chubb Corp. during the second quarter valued at $203,000. 87.24% of the stock is owned by institutional investors.
Chubb Corp. (NYSE:CB) traded up 0.52% during midday trading on Wednesday, hitting $125.99. The stock had a trading volume of 605,625 shares. The firm has a market cap of $58.60 billion, a PE ratio of 20.87 and a beta of 1.02. Chubb Corp. has a one year low of $106.82 and a one year high of $131.00. The stock has a 50-day moving average price of $125.47 and a 200 day moving average price of $125.02.
Chubb Corp. (NYSE:CB) last announced its earnings results on Tuesday, July 26th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.45 by $0.20. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.40 billion. Chubb Corp. had a net margin of 9.35% and a return on equity of 9.92%. The business’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. On average, analysts predict that Chubb Corp. will post $9.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be issued a dividend of $0.69 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.76 annualized dividend and a dividend yield of 2.20%. Chubb Corp.’s payout ratio is currently 44.37%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Chubb Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Morgan Stanley lifted their price objective on Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Barclays PLC lifted their price objective on Chubb Corp. from $133.00 to $139.00 and gave the company an “overweight” rating in a research note on Friday, September 30th. Citigroup Inc. reiterated a “neutral” rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. Finally, Credit Suisse Group AG set a $136.00 price objective on Chubb Corp. and gave the company a “buy” rating in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $132.14.
In related news, EVP Sean Ringsted sold 15,570 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $125.00, for a total transaction of $1,946,250.00. Following 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 SEC, which is accessible through this link. Also, Director Robert W. Scully bought 10,725 shares of the company’s 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 completion of the acquisition, the director now owns 5,779 shares in the company, valued at approximately $727,865.05. The disclosure for this purchase can be found here. Corporate insiders own 0.43% of the company’s stock.
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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