US Bancorp DE Boosts Position in Chubb Corp. (CB)
US Bancorp DE increased its position in shares of Chubb Corp. (NYSE:CB) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 890,890 shares of the company’s stock after buying an additional 17,619 shares during the period. US Bancorp DE’s holdings in Chubb Corp. were worth $111,940,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC raised its stake in shares of Chubb Corp. by 47.8% in the second quarter. Pathstone Family Office LLC now owns 773 shares of the company’s stock worth $101,000 after buying an additional 250 shares during the period. 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 worth $120,000 after buying an additional 31 shares during the period. Enterprise Financial Services Corp raised its stake in shares of Chubb Corp. by 1.8% in the third quarter. Enterprise Financial Services Corp now owns 941 shares of the company’s stock worth $118,000 after buying an additional 17 shares during the period. FNY Managed Accounts LLC raised its stake 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 worth $129,000 after buying an additional 237 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of Chubb Corp. by 207.4% in the second quarter. Global X Management Co. LLC now owns 993 shares of the company’s stock worth $130,000 after buying an additional 670 shares during the period. Institutional investors own 85.22% of the company’s stock.
Shares of Chubb Corp. (NYSE:CB) opened at 126.76 on Tuesday. The company has a market cap of $58.99 billion, a price-to-earnings ratio of 16.98 and a beta of 0.86. Chubb Corp. has a 52 week low of $106.82 and a 52 week high of $131.00. The firm’s 50-day moving average price is $125.41 and its 200 day moving average price is $126.15.
Chubb Corp. (NYSE:CB) last announced its earnings results on Tuesday, October 25th. The company reported $2.88 EPS for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.30. Chubb Corp. had a return on equity of 9.88% and a net margin of 11.20%. The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same period last year, the firm earned $2.37 EPS. Chubb Corp.’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Chubb Corp. will post $9.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Friday, December 30th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.18%. Chubb Corp.’s dividend payout ratio is currently 36.90%.
A number of analysts have issued reports on the company. Zacks Investment Research raised Chubb Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. Credit Suisse Group AG set a $136.00 target price on Chubb Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. William Blair downgraded Chubb Corp. from a “market perform” rating to an “underperform” rating in a research report on Thursday, November 17th. Citigroup Inc. assumed coverage on Chubb Corp. in a research report on Tuesday, November 22nd. They issued a “buy” rating and a $147.00 target price for the company. Finally, Goldman Sachs Group Inc. downgraded Chubb Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $133.00 in a research report on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $133.53.
In other Chubb Corp. news, EVP Sean Ringsted sold 4,000 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $126.50, for a total value of $506,000.00. Following the completion of the sale, the executive vice president now owns 150,192 shares in the company, valued at approximately $18,999,288. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David H. Sidwell purchased 830 shares of the business’s stock in a transaction on Monday, September 26th. The stock was acquired at an average price of $124.90 per share, with a total value of $103,667.00. Following the purchase, 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 corporate 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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