Chubb Corp. (CB) Position Decreased by Cornerstone Investment Partners LLC
Cornerstone Investment Partners LLC reduced its position in Chubb Corp. (NYSE:CB) by 25.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,956 shares of the company’s stock after selling 204,607 shares during the period. Chubb Corp. comprises about 3.4% of Cornerstone Investment Partners LLC’s holdings, making the stock its 14th largest position. Cornerstone Investment Partners LLC’s holdings in Chubb Corp. were worth $77,269,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CB. Trust Co bought a new stake in Chubb Corp. during the first quarter worth $1,077,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Chubb Corp. by 2.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 401,687 shares of the company’s stock valued at $52,504,000 after buying an additional 9,246 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in shares of Chubb Corp. by 7.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 120,230 shares of the company’s stock valued at $15,715,000 after buying an additional 8,025 shares during the last quarter. Daiwa SB Investments Ltd. increased 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 during the last quarter. Finally, Foundation Resource Management Inc. acquired a new position in shares of Chubb Corp. during the second quarter valued at approximately $747,000. Institutional investors and hedge funds own 85.22% of the company’s stock.
Chubb Corp. (NYSE:CB) opened at 128.24 on Wednesday. The company has a market cap of $59.68 billion, a P/E ratio of 17.18 and a beta of 0.86. The company’s 50-day moving average is $125.41 and its 200-day moving average is $126.15. Chubb Corp. has a 52 week low of $106.82 and a 52 week high of $131.00.
Chubb Corp. (NYSE:CB) last posted its earnings results on Tuesday, October 25th. The company reported $2.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.30. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.36 billion. Chubb Corp. had a net margin of 11.20% and a return on equity of 9.88%. Chubb Corp.’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.37 EPS. On average, analysts anticipate that Chubb Corp. will post $9.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Stockholders 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 dividend yield of 2.15%. Chubb Corp.’s payout ratio is 36.90%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of 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 shares of Chubb Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. William Blair lowered shares of Chubb Corp. from a “market perform” rating to an “underperform” rating in a research note on Thursday, November 17th. Citigroup Inc. assumed coverage on shares of Chubb Corp. in a research note on Tuesday, November 22nd. They issued a “buy” rating and a $147.00 target price for the company. Finally, Goldman Sachs Group Inc. cut shares of Chubb Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $133.00 in a report on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Chubb Corp. presently has a consensus rating of “Buy” and an average price target of $133.53.
In other news, EVP Sean Ringsted sold 4,000 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $126.50, for a total value of $506,000.00. Following the transaction, the executive vice president now owns 150,192 shares of the company’s stock, valued at approximately $18,999,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David H. Sidwell purchased 830 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was bought at an average cost of $124.90 per share, for a total transaction of $103,667.00. Following the acquisition, the director now directly owns 7,386 shares in the company, valued at $922,511.40. The disclosure for this purchase can be found here. 0.43% of the stock is currently 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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