Valley National Advisers Inc. continued to hold its stake in Chubb Corp. (NYSE:CB) during the third quarter, Holdings Channel reports. The institutional investor owned 10,744 shares of the company’s stock at the end of the third quarter. Valley National Advisers Inc.’s holdings in Chubb Corp. were worth $1,350,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Sabal Trust CO purchased a new position in shares of Chubb Corp. during the third quarter valued at $21,655,000. Evercore Wealth Management LLC boosted 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 valued at $56,420,000 after buying an additional 1,671 shares in the last quarter. MD Sass Investors Services Inc. boosted 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 valued at $80,591,000 after buying an additional 85,250 shares in the last quarter. Cooke & Bieler LP boosted 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 valued at $76,260,000 after buying an additional 159,607 shares in the last quarter. Finally, Cincinnati Financial Corp boosted 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 valued at $31,750,000 after buying an additional 72,000 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.
Shares of Chubb Corp. (NYSE:CB) traded down 0.53% during trading on Thursday, reaching $131.27. 1,626,942 shares of the company were exchanged. Chubb Corp. has a 52-week low of $106.82 and a 52-week high of $133.89. The stock has a market capitalization of $61.09 billion, a P/E ratio of 17.59 and a beta of 0.84. The stock has a 50-day moving average of $131.46 and a 200 day moving average of $127.47.
Chubb Corp. (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $2.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.30. Chubb Corp. had a net margin of 11.20% and a return on equity of 9.88%. The firm had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.36 billion. During the same quarter in the previous year, the company earned $2.37 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Corp. will post $9.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.76 dividend on an annualized basis and a yield of 2.10%. Chubb Corp.’s dividend payout ratio is currently 36.90%.
CB has been the topic of several recent analyst reports. Goldman Sachs Group Inc. cut shares of Chubb Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $140.00 to $133.00 in a report on Tuesday, November 15th. Barclays PLC upped their price target on shares of Chubb Corp. from $133.00 to $139.00 and gave the company an “overweight” rating in a report on Friday, September 30th. Citigroup Inc. initiated coverage on shares of Chubb Corp. in a report on Tuesday, November 22nd. They issued a “buy” rating and a $147.00 price target on the stock. Zacks Investment Research raised shares of Chubb Corp. from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Finally, William Blair cut shares of Chubb Corp. from a “market perform” rating to an “underperform” rating in a report on Thursday, November 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Chubb Corp. presently has an average rating of “Buy” and an average price target of $133.93.
In other Chubb Corp. news, EVP Sean Ringsted sold 4,000 shares of Chubb Corp. stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $126.50, for a total transaction of $506,000.00. Following the completion of the transaction, the executive vice president now directly owns 150,192 shares of the company’s stock, valued at $18,999,288. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 132,219 shares of Chubb Corp. stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $132.97, for a total value of $17,581,160.43. Following the transaction, the chief executive officer now directly owns 1,487,338 shares of the company’s stock, valued at $197,771,333.86. The disclosure for this sale can be found here. 0.43% of the stock is owned by 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.
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