Chubb Corp. (CB) Upgraded to Hold by Zacks Investment Research
Chubb Corp. (NYSE:CB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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.”
Several other research analysts have also weighed in on the company. Atlantic Securities lowered Chubb Corp. from a “neutral” rating to an “underweight” rating and set a $115.00 target price on the stock. in a research report on Thursday, June 16th. BMO Capital Markets lowered Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 target price on the stock. in a research report on Monday, July 11th. They noted that the move was a valuation call. Credit Suisse Group AG set a $136.00 target price on Chubb Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Barclays PLC upped their target price on Chubb Corp. from $133.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, September 30th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Chubb Corp. in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $131.67.
Chubb Corp. (NYSE:CB) opened at 121.88 on Friday. The firm has a market capitalization of $56.68 billion, a price-to-earnings ratio of 20.19 and a beta of 1.02. Chubb Corp. has a 12 month low of $105.40 and a 12 month high of $131.00. The firm has a 50 day moving average price of $125.70 and a 200-day moving average price of $124.72.
Chubb Corp. (NYSE:CB) last issued its earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share for the quarter, missing the 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 firm earned $7.64 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was up 59.7% on a year-over-year basis. On average, equities analysts forecast that Chubb Corp. will post $9.60 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.76 annualized dividend and a dividend yield of 2.26%. Chubb Corp.’s dividend payout ratio (DPR) is presently 44.37%.
In related news, EVP Sean Ringsted sold 15,570 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 169,762 shares in the company, valued at approximately $21,220,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Scully bought 10,725 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $125.95 per share, with a total value of $1,350,813.75. Following the transaction, the director now directly owns 5,779 shares in the company, valued at $727,865.05. The disclosure for this purchase can be found here. Corporate insiders own 0.43% of the company’s stock.
Several institutional investors have recently bought and sold shares of CB. Associated Banc Corp bought a new position in Chubb Corp. during the first quarter valued at approximately $212,000. Ropes Wealth Advisors LLC increased its position in Chubb Corp. by 0.4% in the first quarter. Ropes Wealth Advisors LLC now owns 9,022 shares of the company’s stock valued at $1,075,000 after buying an additional 39 shares during the period. Cannell Peter B & Co Inc bought a new position in Chubb Corp. during the first quarter valued at approximately $31,095,000. Wunderlich Capital Managemnt bought a new position in Chubb Corp. during the first quarter valued at approximately $1,520,000. Finally, Picton Mahoney Asset Management bought a new position in Chubb Corp. during the first quarter valued at approximately $14,082,000. Institutional investors and hedge funds 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.
Receive News & Stock Ratings for Chubb Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb Corp. and related stocks with our FREE daily email newsletter.