Coconut Grove Bank increased its stake in Chubb Corp. (NYSE:CB) by 45.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,910 shares of the company’s stock after buying an additional 600 shares during the period. Coconut Grove Bank’s holdings in Chubb Corp. were worth $240,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Evercore Wealth Management LLC raised its stake in Chubb Corp. by 0.4% in the second quarter. Evercore Wealth Management LLC now owns 431,640 shares of the company’s stock worth $56,420,000 after buying an additional 1,671 shares during the period. MD Sass Investors Services Inc. raised its stake in Chubb Corp. by 16.0% in the second quarter. MD Sass Investors Services Inc. now owns 616,603 shares of the company’s stock worth $80,591,000 after buying an additional 85,250 shares during the period. Cincinnati Financial Corp raised its stake in Chubb Corp. by 42.1% in the second quarter. Cincinnati Financial Corp now owns 242,902 shares of the company’s stock worth $31,750,000 after buying an additional 72,000 shares during the period. Cooke & Bieler LP raised its stake in Chubb Corp. by 37.7% in the second quarter. Cooke & Bieler LP now owns 583,427 shares of the company’s stock worth $76,260,000 after buying an additional 159,607 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in Chubb Corp. by 12.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 728,497 shares of the company’s stock worth $95,222,000 after buying an additional 81,158 shares during the period. Hedge funds and other institutional investors own 85.22% of the company’s stock.
Shares of Chubb Corp. (NYSE:CB) traded down 0.114% during mid-day trading on Monday, hitting $126.505. 598,172 shares of the stock traded hands. The firm’s 50 day moving average price is $125.34 and its 200-day moving average price is $126.12. The stock has a market cap of $58.87 billion, a P/E ratio of 16.949 and a beta of 0.86. Chubb Corp. has a 12-month low of $106.82 and a 12-month high of $131.00.
Chubb Corp. (NYSE:CB) last posted its earnings results on Tuesday, October 25th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.30. Chubb Corp. had a net margin of 11.20% and a return on equity of 9.88%. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same period in the previous year, the company posted $2.37 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Analysts predict 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. Investors of record on Friday, December 30th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.18%. Chubb Corp.’s dividend payout ratio is presently 36.90%.
A number of research firms have issued reports on CB. Zacks Investment Research upgraded shares of Chubb Corp. from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Tuesday, November 22nd. William Blair lowered shares of Chubb Corp. from a “market perform” rating to an “underperform” rating in a report on Thursday, November 17th. Barclays PLC reiterated a “buy” rating on shares of Chubb Corp. in a report on Friday, November 18th. Finally, Citigroup Inc. assumed coverage on shares of Chubb Corp. in a report on Tuesday, November 22nd. They issued a “buy” rating and a $147.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Chubb Corp. presently has a consensus rating of “Buy” and a consensus target price of $133.53.
In related news, EVP Sean Ringsted sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $126.50, for a total value of $506,000.00. Following the sale, the executive vice president now directly owns 150,192 shares of the company’s stock, valued at $18,999,288. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David H. Sidwell purchased 830 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was bought at an average cost of $124.90 per share, for a total transaction of $103,667.00. Following the completion of the acquisition, the director now directly owns 7,386 shares of the company’s stock, valued at $922,511.40. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by corporate insiders.
About Chubb Corp.
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.