According to Zacks, “Chubb stands a good chance of taking leadership in the P&C space benefiting from complementary products and services. It’s inorganic growth story seems impressive and should help it achieve higher long-term ROE. A strong capital position helps Chubb to engage in shareholder friendly moves and invest in strategic initiatives that drive growth. Recently, Chubb announced that its enterprise-wide insurance solution, Integrity+, will now be available in Canada. The latest policy will protect Canadian companies from errors and omissions (E&O) liability customer lawsuits. Chubb expects third quarter investment income between $820-830 million. However, the company’s exposure to cat loss and a low interest rate environment are headwinds. Rising expenses and eroding margins are concerns.”
CB has been the topic of several other reports. Barclays PLC raised their target price on shares of Chubb Corp. from $133.00 to $139.00 and gave the stock an overweight rating in a report on Friday, September 30th. Atlantic Securities cut shares of Chubb Corp. from a neutral rating to an underweight rating and set a $115.00 target price on the stock. in a report on Thursday, June 16th. Credit Suisse Group AG set a $136.00 target price on shares of Chubb Corp. and gave the stock a buy rating in a report on Monday, September 12th. Citigroup Inc. reissued a neutral rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. Finally, BMO Capital Markets cut shares of Chubb Corp. from an outperform rating to a market perform rating and set a $136.00 price objective on the stock. 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 assigned a hold rating and eleven have assigned a buy rating to the company. Chubb Corp. presently has an average rating of Buy and an average price target of $131.67.
Shares of Chubb Corp. (NYSE:CB) traded up 0.28% during mid-day trading on Friday, hitting $124.78. 295,785 shares of the company’s stock traded hands. The company has a market cap of $58.03 billion, a PE ratio of 20.67 and a beta of 1.02. Chubb Corp. has a 52 week low of $105.40 and a 52 week high of $131.00. The firm has a 50-day moving average of $125.62 and a 200 day moving average of $124.74.
Chubb Corp. (NYSE:CB) last announced its earnings results on Tuesday, July 26th. The company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by $0.20. Chubb Corp. had a return on equity of 9.92% and a net margin of 9.35%. The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm’s revenue for the quarter was up 59.7% compared to the same quarter last year. Equities research analysts predict that Chubb Corp. will post $9.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, September 28th. Chubb Corp.’s dividend payout ratio is presently 44.37%.
In other news, Director Robert W. Scully bought 10,725 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average price 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 of the company’s stock, valued at $727,865.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Ringsted sold 15,570 shares of Chubb Corp. stock in a transaction on 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 transaction, the executive vice president now directly owns 169,762 shares of the company’s stock, valued at approximately $21,220,250. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its position in shares of Chubb Corp. by 35.1% in the third quarter. Advisory Services Network LLC now owns 6,470 shares of the company’s stock worth $813,000 after buying an additional 1,680 shares in the last quarter. Trust Co. of Oklahoma increased its position in shares of Chubb Corp. by 0.6% in the third quarter. Trust Co. of Oklahoma now owns 20,354 shares of the company’s stock worth $2,557,000 after buying an additional 112 shares in the last quarter. Catawba Capital Management VA increased its position in shares of Chubb Corp. by 15.5% in the third quarter. Catawba Capital Management VA now owns 25,043 shares of the company’s stock worth $3,147,000 after buying an additional 3,360 shares in the last quarter. Bremer Trust National Association increased its position in shares of Chubb Corp. by 33.7% in the third quarter. Bremer Trust National Association now owns 3,648 shares of the company’s stock worth $458,000 after buying an additional 919 shares in the last quarter. Finally, First American Bank increased its position in shares of Chubb Corp. by 1.7% in the third quarter. First American Bank now owns 27,412 shares of the company’s stock worth $3,445,000 after buying an additional 451 shares in the last quarter. 87.25% of the stock is owned by institutional investors and hedge funds.
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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