Advisory Services Network LLC lowered its stake in Chubb Corp. (NYSE:CB) by 39.6% during the second quarter, Holdings Channel reports. The institutional investor owned 4,790 shares of the company’s stock after selling 3,134 shares during the period. Advisory Services Network LLC’s holdings in Chubb Corp. were worth $626,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Chubb Corp. by 1,144.2% in the first quarter. Wellington Management Group LLP now owns 32,841,412 shares of the company’s stock valued at $3,913,055,000 after buying an additional 30,201,897 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Chubb Corp. by 269.4% in the first quarter. JPMorgan Chase & Co. now owns 20,089,163 shares of the company’s stock valued at $2,393,625,000 after buying an additional 14,651,182 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Chubb Corp. by 93.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,974,022 shares of the company’s stock valued at $1,426,705,000 after buying an additional 5,775,509 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Chubb Corp. by 81.1% in the first quarter. BlackRock Fund Advisors now owns 6,175,979 shares of the company’s stock valued at $735,868,000 after buying an additional 2,765,449 shares in the last quarter. Finally, Altrinsic Global Advisors LLC bought a new position in shares of Chubb Corp. during the first quarter valued at about $243,416,000. 87.25% of the stock is owned by institutional investors and hedge funds.
Chubb Corp. (NYSE:CB) traded down 1.01% during trading on Tuesday, reaching $122.96. The company’s stock had a trading volume of 1,585,153 shares. The company has a 50-day moving average of $125.91 and a 200 day moving average of $124.75. The firm has a market cap of $57.19 billion, a PE ratio of 20.37 and a beta of 1.02. Chubb Corp. has a one year low of $103.48 and a one year high of $131.00.
Chubb Corp. (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.45 by $0.20. The business earned $7.64 billion during the quarter, compared to the consensus estimate of $7.40 billion. Chubb Corp. had a return on equity of 9.92% and a net margin of 9.35%. The business’s revenue for the quarter was up 59.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. Analysts expect that Chubb Corp. will post $9.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 30th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, September 28th. Chubb Corp.’s dividend payout ratio is presently 44.37%.
CB has been the subject of several analyst reports. Atlantic Securities lowered Chubb Corp. from a “neutral” rating to an “underweight” rating and set a $115.00 target price for the company. in a research report on Thursday, June 16th. Zacks Investment Research downgraded Chubb Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. BMO Capital Markets downgraded Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 price target for the company. in a report on Monday, July 11th. They noted that the move was a valuation call. Credit Suisse Group AG set a $136.00 price target on Chubb Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Finally, Barclays PLC increased their price target on Chubb Corp. from $133.00 to $139.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $131.67.
In related 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 bought at an average cost of $125.95 per share, with a total value of $1,350,813.75. Following the completion of the purchase, the director now directly owns 5,779 shares in the company, valued at $727,865.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Ringsted sold 15,570 shares of the 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 completion of the transaction, the executive vice president now directly 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 currently owned by company insiders.
Chubb Corp. Company Profile
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