Chubb Corp. (CB) Research Coverage Started at Citigroup Inc.
Research analysts at Citigroup Inc. started coverage on shares of Chubb Corp. (NYSE:CB) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.
A number of other equities analysts have also issued reports on CB. Morgan Stanley raised 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. Zacks Investment Research lowered Chubb Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. 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. Finally, Barclays PLC lifted their price objective on Chubb Corp. from $133.00 to $139.00 and gave the company an “overweight” rating in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $132.07.
Chubb Corp. (NYSE:CB) opened at 127.05 on Tuesday. The firm’s 50 day moving average price is $124.98 and its 200-day moving average price is $126.06. Chubb Corp. has a one year low of $106.82 and a one year high of $131.00. The firm has a market cap of $59.12 billion, a PE ratio of 17.02 and a beta of 0.86.
Chubb Corp. (NYSE:CB) last released its quarterly earnings results on Tuesday, October 25th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same quarter last year, the company posted $2.37 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. Equities analysts predict that Chubb Corp. will post $9.79 EPS 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 issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.17%. Chubb Corp.’s dividend payout ratio (DPR) is presently 36.90%.
In related news, Director David H. Sidwell acquired 830 shares of the stock in a transaction dated Monday, September 26th. The stock was bought at an average cost of $124.90 per share, with a total value of $103,667.00. Following the purchase, the director now directly owns 7,386 shares of the company’s stock, valued at $922,511.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.43% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Thomaspartners Inc. boosted its stake in shares of Chubb Corp. by 0.6% in the third quarter. Thomaspartners Inc. now owns 1,966 shares of the company’s stock worth $247,000 after buying an additional 12 shares during the period. Farmers Trust Co. boosted its stake in shares of Chubb Corp. by 0.8% in the third quarter. Farmers Trust Co. now owns 2,128 shares of the company’s stock worth $268,000 after buying an additional 16 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Chubb Corp. by 0.3% in the second quarter. Moors & Cabot Inc. now owns 6,513 shares of the company’s stock worth $856,000 after buying an additional 17 shares during the period. Enterprise Financial Services Corp boosted its stake in shares of Chubb Corp. by 1.8% in the third quarter. Enterprise Financial Services Corp now owns 941 shares of the company’s stock worth $118,000 after buying an additional 17 shares during the period. Finally, Hanson McClain Inc. boosted its stake in shares of Chubb Corp. by 1.5% in the second quarter. Hanson McClain Inc. now owns 1,472 shares of the company’s stock worth $192,000 after buying an additional 22 shares during the period. 86.30% of the stock is owned by institutional investors.
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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