Sean Ringsted Sells 4,000 Shares of Chubb Corp. (CB) Stock
Chubb Corp. (NYSE:CB) EVP Sean Ringsted sold 4,000 shares of Chubb Corp. stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $126.50, for a total transaction of $506,000.00. Following the completion of the transaction, the executive vice president now owns 150,192 shares in the company, valued at approximately $18,999,288. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Chubb Corp. (NYSE:CB) traded up 0.22% during midday trading on Wednesday, hitting $126.69. 1,082,194 shares of the company traded hands. The stock’s 50-day moving average is $125.11 and its 200-day moving average is $126.09. The firm has a market capitalization of $58.95 billion, a PE ratio of 16.97 and a beta of 0.86. Chubb Corp. has a 12-month low of $106.82 and a 12-month high of $131.00.
Chubb Corp. (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $2.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.30. Chubb Corp. had a net margin of 11.20% and a return on equity of 9.88%. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same period in the prior year, the business posted $2.37 earnings per share. Chubb Corp.’s revenue was down 4.0% compared to the same quarter last year. Analysts anticipate that Chubb Corp. will post $9.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Friday, December 30th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.18%. Chubb Corp.’s dividend payout ratio is currently 36.90%.
CB has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Chubb Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. Credit Suisse Group AG set a $136.00 price target on shares of Chubb Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. William Blair lowered shares of Chubb Corp. from a “market perform” rating to an “underperform” rating in a research report on Thursday, November 17th. Citigroup Inc. initiated coverage on shares of Chubb Corp. in a research report on Tuesday. They issued a “buy” rating on the stock. Finally, Goldman Sachs Group Inc. lowered shares of Chubb Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $133.00 in a research report on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Chubb Corp. has an average rating of “Buy” and a consensus target price of $132.07.
A number of institutional investors have recently made changes to their positions in the stock. Thomaspartners Inc. raised its stake in Chubb Corp. by 0.6% in the third quarter. Thomaspartners Inc. now owns 1,966 shares of the company’s stock valued at $247,000 after buying an additional 12 shares during the period. Farmers Trust Co. raised its stake in Chubb Corp. by 0.8% in the third quarter. Farmers Trust Co. now owns 2,128 shares of the company’s stock valued at $268,000 after buying an additional 16 shares during the period. Moors & Cabot Inc. raised its stake in Chubb Corp. by 0.3% in the second quarter. Moors & Cabot Inc. now owns 6,513 shares of the company’s stock valued at $856,000 after buying an additional 17 shares during the period. Enterprise Financial Services Corp raised its stake in Chubb Corp. by 1.8% in the third quarter. Enterprise Financial Services Corp now owns 941 shares of the company’s stock valued at $118,000 after buying an additional 17 shares during the period. Finally, Hanson McClain Inc. raised its stake in Chubb Corp. by 1.5% in the second quarter. Hanson McClain Inc. now owns 1,472 shares of the company’s stock valued at $192,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.
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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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