Barclays PLC Reiterates Buy Rating for Chubb Corp. (CB)
Chubb Corp. (NYSE:CB)‘s stock had its “buy” rating restated by investment analysts at Barclays PLC in a research report issued on Friday.
The analysts wrote, “We were hoping for a $2bn buyback in 2017, although the company has preferred to keep an excess capital cushion to support expansion opportunities.””
CB has been the subject of several other reports. Zacks Investment Research downgraded shares of Chubb Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Morgan Stanley boosted their target price on shares of Chubb Corp. from $136.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Goldman Sachs Group Inc. downgraded shares of Chubb Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $133.00 in a research report on Tuesday, November 15th. William Blair downgraded shares of Chubb Corp. from a “market perform” rating to an “underperform” rating in a research report on Thursday, November 17th. Finally, Credit Suisse Group AG set a $136.00 price objective on shares of Chubb Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $132.07.
Chubb Corp. (NYSE:CB) opened at 127.05 on Friday. The firm has a market capitalization of $59.12 billion, a price-to-earnings ratio of 17.02 and a beta of 0.86. Chubb Corp. has a one year low of $106.82 and a one year high of $131.00. The firm’s 50-day moving average is $124.98 and its 200 day moving average is $126.06.
Chubb Corp. (NYSE:CB) last posted 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. The company earned $7.57 billion during the quarter, compared to the consensus estimate of $7.36 billion. Chubb Corp. had a net margin of 11.20% and a return on equity of 9.88%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.37 earnings per share. Analysts forecast that Chubb Corp. will post $9.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.17%. Chubb Corp.’s dividend payout ratio is currently 36.90%.
In other Chubb Corp. news, Director David H. Sidwell bought 830 shares of the business’s stock in a transaction on Monday, September 26th. The shares were bought at an average cost of $124.90 per share, for a total transaction of $103,667.00. Following the transaction, the director now owns 7,386 shares in the company, valued at approximately $922,511.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.43% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC increased its position in Chubb Corp. by 2.4% in the third quarter. HighPoint Advisor Group LLC now owns 2,561 shares of the company’s stock worth $321,000 after buying an additional 60 shares during the last quarter. D.A. Davidson & CO. increased its position in Chubb Corp. by 6.6% in the third quarter. D.A. Davidson & CO. now owns 251,400 shares of the company’s stock worth $31,581,000 after buying an additional 15,661 shares during the last quarter. Bainco International Investors increased its position in Chubb Corp. by 1.6% in the third quarter. Bainco International Investors now owns 63,862 shares of the company’s stock worth $8,024,000 after buying an additional 1,030 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Chubb Corp. during the third quarter worth about $11,961,000. Finally, Altfest L J & Co. Inc. acquired a new position in Chubb Corp. during the third quarter worth about $1,595,000. Institutional investors own 86.30% 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.
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