Cidel Asset Management Inc. reduced its position in shares of Chubb Corp. (NYSE:CB) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,326 shares of the company’s stock after selling 585 shares during the period. Cidel Asset Management Inc.’s holdings in Chubb Corp. were worth $795,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Vanguard Group Inc. boosted its stake in Chubb Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 30,833,714 shares of the company’s stock worth $4,030,275,000 after buying an additional 904,128 shares during the period. FMR LLC boosted its stake in Chubb Corp. by 3.4% in the second quarter. FMR LLC now owns 30,580,436 shares of the company’s stock worth $3,997,169,000 after buying an additional 1,018,879 shares during the period. BlackRock Fund Advisors boosted its stake in Chubb Corp. by 6.0% in the second quarter. BlackRock Fund Advisors now owns 6,543,900 shares of the company’s stock worth $855,353,000 after buying an additional 367,921 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Chubb Corp. by 0.4% in the second quarter. TIAA CREF Investment Management LLC now owns 4,725,519 shares of the company’s stock worth $617,673,000 after buying an additional 18,461 shares during the period. Finally, BlackRock Group LTD boosted its stake in Chubb Corp. by 0.3% in the second quarter. BlackRock Group LTD now owns 4,625,337 shares of the company’s stock worth $604,580,000 after buying an additional 14,597 shares during the period. 86.30% of the stock is owned by institutional investors.
Chubb Corp. (NYSE:CB) traded down 0.03% during trading on Friday, reaching $126.65. The company had a trading volume of 534,232 shares. The company has a market capitalization of $58.94 billion, a P/E ratio of 16.97 and a beta of 0.86. The firm’s 50 day moving average is $125.15 and its 200-day moving average is $126.09. Chubb Corp. has a 12 month low of $106.82 and a 12 month high of $131.00.
Chubb Corp. (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.30. The firm earned $7.57 billion during the quarter, compared to analysts’ expectations of $7.36 billion. Chubb Corp. had a return on equity of 9.88% and a net margin of 11.20%. Chubb Corp.’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.37 earnings per share. On average, equities analysts expect that Chubb Corp. will post $9.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, December 30th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.18%. Chubb Corp.’s payout ratio is 36.90%.
CB has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Zacks Investment Research cut Chubb Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. Credit Suisse Group AG set a $136.00 price target on Chubb Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Barclays PLC boosted their price target on Chubb Corp. from $133.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, September 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Chubb Corp. currently has a consensus rating of “Buy” and a consensus price target of $132.07.
In related news, Director David H. Sidwell purchased 830 shares of the company’s stock in a transaction on Monday, September 26th. The stock was bought at an average price of $124.90 per share, with a total value of $103,667.00. Following the completion of the transaction, the director now owns 7,386 shares of the company’s stock, valued at approximately $922,511.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Ringsted sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $126.50, for a total value of $506,000.00. Following the transaction, the executive vice president now directly owns 150,192 shares of the company’s stock, valued at approximately $18,999,288. The disclosure for this sale can be found here. Company insiders own 0.43% 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.
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