Chubb Corp. (CB) Shares Bought by Evercore Wealth Management LLC
Evercore Wealth Management LLC increased its position in shares of Chubb Corp. (NYSE:CB) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,640 shares of the company’s stock after buying an additional 1,671 shares during the period. Chubb Corp. comprises 2.5% of Evercore Wealth Management LLC’s portfolio, making the stock its 4th largest position. Evercore Wealth Management LLC owned 0.09% of Chubb Corp. worth $56,420,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantum Capital Management acquired a new position in shares of Chubb Corp. during the first quarter valued at approximately $218,000. AIMZ Investment Advisors LLC purchased a new stake in Chubb Corp. during the first quarter valued at $262,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Chubb Corp. by 64.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,090 shares of the company’s stock valued at $1,799,000 after buying an additional 5,939 shares during the period. Squarepoint Ops LLC boosted its stake in Chubb Corp. by 1,394.1% in the first quarter. Squarepoint Ops LLC now owns 105,706 shares of the company’s stock valued at $12,595,000 after buying an additional 98,631 shares during the period. Finally, Royal Bank of Canada boosted its stake in Chubb Corp. by 209.0% in the first quarter. Royal Bank of Canada now owns 967,773 shares of the company’s stock valued at $115,310,000 after buying an additional 654,609 shares during the period. 87.11% of the stock is owned by institutional investors and hedge funds.
Chubb Corp. (NYSE:CB) opened at 126.85 on Friday. The stock’s 50 day moving average price is $124.84 and its 200 day moving average price is $125.64. The company has a market cap of $59.02 billion, a P/E ratio of 16.99 and a beta of 0.86. Chubb Corp. has a 1-year low of $106.82 and a 1-year high of $131.00.
Chubb Corp. (NYSE:CB) last released its earnings results on Tuesday, October 25th. The company reported $2.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.30. Chubb Corp. had a return on equity of 9.88% and a net margin of 11.20%. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.36 billion. During the same period in the previous year, the company posted $2.37 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Corp. will post $9.79 earnings per share for the current fiscal year.
Several analysts recently commented on CB shares. Zacks Investment Research upgraded Chubb Corp. from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Monday, October 31st. Credit Suisse Group AG set a $136.00 price target on Chubb Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Morgan Stanley increased their price target on Chubb Corp. from $136.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $132.07.
In related news, Director David H. Sidwell bought 830 shares of the company’s stock in a transaction on Monday, September 26th. The shares were acquired at an average cost of $124.90 per share, with a total value of $103,667.00. Following the completion of the acquisition, the director now owns 7,386 shares of the company’s stock, valued at approximately $922,511.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.43% of the stock is owned by company 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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