Chubb Corp. (CB) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado decreased its stake in Chubb Corp. (NYSE:CB) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,358 shares of the company’s stock after selling 3,425 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Chubb Corp. were worth $12,726,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Chubb Corp. by 1,144.2% in the first quarter. Wellington Management Group LLP now owns 32,841,412 shares of the company’s stock valued at $3,913,055,000 after buying an additional 30,201,897 shares during the last quarter. Altrinsic Global Advisors LLC bought a new stake in shares of Chubb Corp. during the first quarter valued at about $243,416,000. Geode Capital Management LLC boosted its stake in shares of Chubb Corp. by 101.2% in the first quarter. Geode Capital Management LLC now owns 3,709,659 shares of the company’s stock valued at $441,104,000 after buying an additional 1,866,068 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Chubb Corp. by 193.3% in the first quarter. UBS Asset Management Americas Inc. now owns 2,284,749 shares of the company’s stock valued at $272,228,000 after buying an additional 1,505,808 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Chubb Corp. by 206.8% in the first quarter. Renaissance Technologies LLC now owns 1,347,361 shares of the company’s stock valued at $160,538,000 after buying an additional 908,261 shares during the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.
Shares of Chubb Corp. (NYSE:CB) traded up 0.05% during midday trading on Thursday, reaching $124.99. The company’s stock had a trading volume of 628,099 shares. The stock has a 50 day moving average of $125.49 and a 200-day moving average of $124.84. The company has a market capitalization of $58.13 billion, a P/E ratio of 20.70 and a beta of 1.02. Chubb Corp. has a 1-year low of $105.83 and a 1-year high of $131.00.
Chubb Corp. (NYSE:CB) last issued its earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by $0.20. The company earned $7.64 billion during the quarter, compared to analyst estimates of $7.40 billion. Chubb Corp. had a net margin of 9.35% and a return on equity of 9.92%. The business’s revenue for the quarter was up 59.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 EPS. On average, equities research analysts anticipate that Chubb Corp. will post $9.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 30th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.21%. Chubb Corp.’s dividend payout ratio (DPR) is presently 44.37%.
Several analysts have recently issued reports on the company. MKM Partners reiterated a “buy” rating and issued a $150.00 price objective (up from $140.00) on shares of Chubb Corp. in a research note on Friday, July 15th. Zacks Investment Research cut Chubb Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Morgan Stanley raised their price target on Chubb Corp. from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Citigroup Inc. restated a “neutral” rating on shares of Chubb Corp. in a research note on Tuesday, June 21st. Finally, Barclays PLC raised their price target on Chubb Corp. from $133.00 to $139.00 and gave the company an “overweight” rating in a research note on Friday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Chubb Corp. has a consensus rating of “Buy” and an average target price of $131.67.
In related news, EVP Sean Ringsted sold 15,570 shares of the 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 sale, the executive vice president now owns 169,762 shares in the company, valued at $21,220,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Scully acquired 10,725 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $125.95 per share, for a total transaction of $1,350,813.75. Following the purchase, the director now owns 5,779 shares of the company’s stock, valued at $727,865.05. The disclosure for this purchase can be found here. 0.43% of the stock is currently 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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