Zacks Investment Research upgraded shares of Chubb Corp. (NYSE:CB) from a sell rating to a hold rating in a research report released on Friday morning.
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.”
Other equities research analysts have also issued reports about the stock. Credit Suisse Group AG set a $136.00 price target on shares of Chubb Corp. and gave the stock a buy rating in a research note on Monday, September 12th. MKM Partners reiterated a buy rating and set a $150.00 price target (up from $140.00) on shares of Chubb Corp. in a research note on Friday, July 15th. BMO Capital Markets lowered shares of Chubb Corp. from an outperform rating to a market perform rating and set a $136.00 price target on the stock. in a research note on Monday, July 11th. They noted that the move was a valuation call. Citigroup Inc. reiterated a neutral rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. Finally, Barclays PLC lifted their price target on shares of Chubb Corp. from $133.00 to $139.00 and gave the stock an overweight rating in a research note on Friday, September 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $131.67.
Chubb Corp. (NYSE:CB) opened at 124.93 on Friday. Chubb Corp. has a 12 month low of $105.83 and a 12 month high of $131.00. The firm has a 50 day moving average of $125.49 and a 200-day moving average of $124.84. The firm has a market cap of $58.10 billion, a P/E ratio of 20.69 and a beta of 1.02.
Chubb Corp. (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.45 by $0.20. Chubb Corp. had a net margin of 9.35% and a return on equity of 9.92%. The firm earned $7.64 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. Chubb Corp.’s revenue for the quarter was up 59.7% compared to the same quarter last year. On average, equities research analysts forecast that Chubb Corp. will post $9.60 earnings per share for the current year.
The business also recently disclosed 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. This represents a $2.76 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, September 28th. Chubb Corp.’s dividend payout ratio (DPR) is 44.37%.
In other Chubb Corp. news, EVP Sean Ringsted sold 15,570 shares of Chubb Corp. stock in a transaction dated Tuesday, August 2nd. The shares were 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 owns 169,762 shares in the company, valued at $21,220,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David H. Sidwell bought 830 shares of the business’s stock in a transaction on Monday, September 26th. The shares were acquired at an average price of $124.90 per share, with a total value of $103,667.00. Following the transaction, the director now owns 7,386 shares of the company’s stock, valued at approximately $922,511.40. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC boosted its position 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 last quarter. Motco boosted its position 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 last quarter. FNY Managed Accounts LLC boosted its position 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 last quarter. Global X Management Co. LLC boosted its position 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 last quarter. Finally, Integrated Investment Consultants LLC boosted its position in shares of Chubb Corp. by 14.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,011 shares of the company’s stock worth $132,000 after buying an additional 128 shares during the last quarter. Institutional investors own 87.25% of the company’s stock.
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.