Argyle Capital Management Inc. continued to hold its stake in shares of Chubb Corp. (NYSE:CB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,406 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Chubb Corp. were worth $1,491,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CB. Confluence Investment Management LLC boosted its stake in shares of Chubb Corp. by 9.8% in the second quarter. Confluence Investment Management LLC now owns 543,606 shares of the company’s stock worth $71,055,000 after buying an additional 48,341 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Chubb Corp. by 0.3% in the second quarter. Retirement Systems of Alabama now owns 399,077 shares of the company’s stock worth $52,163,000 after buying an additional 1,282 shares during the period. Portland Global Advisors LLC boosted its stake in shares of Chubb Corp. by 3.1% in the second quarter. Portland Global Advisors LLC now owns 7,455 shares of the company’s stock worth $974,000 after buying an additional 225 shares during the period. Boston Advisors LLC boosted its stake in shares of Chubb Corp. by 0.8% in the second quarter. Boston Advisors LLC now owns 25,861 shares of the company’s stock worth $3,380,000 after buying an additional 206 shares during the period. Finally, British Airways Pensions Investment Management Ltd purchased a new stake in shares of Chubb Corp. during the second quarter worth about $34,886,000. 87.24% of the stock is owned by hedge funds and other institutional investors.
Chubb Corp. (NYSE:CB) traded down 0.88% during midday trading on Monday, hitting $124.38. The company had a trading volume of 1,451,310 shares. The company’s 50 day moving average is $126.30 and its 200 day moving average is $124.40. Chubb Corp. has a 12-month low of $100.11 and a 12-month high of $131.00. The stock has a market cap of $57.85 billion, a price-to-earnings ratio of 20.60 and a beta of 1.00.
Chubb Corp. (NYSE:CB) last posted its quarterly earnings results 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 firm 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%. The firm’s revenue for the quarter was up 59.7% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. On average, equities analysts anticipate that Chubb Corp. will post $9.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be paid a $0.69 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.76 dividend on an annualized basis and a yield of 2.22%. Chubb Corp.’s dividend payout ratio (DPR) is 44.37%.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Chubb Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Credit Suisse Group AG set a $136.00 target price on Chubb Corp. and gave the company a “buy” rating in a research report on Monday, September 12th. Morgan Stanley upped their target price on Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. MKM Partners reaffirmed a “buy” rating and set a $150.00 price objective (up from $140.00) on shares of Chubb Corp. in a research note on Friday, July 15th. Finally, BMO Capital Markets downgraded Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 price objective for the company. in a research note on Monday, July 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $131.14.
In other news, Director Robert W. Scully purchased 10,725 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost of $125.95 per share, for a total transaction of $1,350,813.75. Following the completion of the purchase, the director now owns 5,779 shares of the company’s stock, valued at $727,865.05. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sean Ringsted sold 15,570 shares of Chubb Corp. stock in a transaction dated 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 transaction, the executive vice president now owns 169,762 shares of the company’s stock, valued at $21,220,250. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.
About Chubb Corp.
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