Torch Wealth Management LLC Cuts Stake in Chubb Corp. (CB)
Torch Wealth Management LLC decreased its position in Chubb Corp. (NYSE:CB) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,485 shares of the company’s stock after selling 30 shares during the period. Chubb Corp. accounts for 1.3% of Torch Wealth Management LLC’s holdings, making the stock its 23rd largest position. Torch Wealth Management LLC’s holdings in Chubb Corp. were worth $1,820,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of Chubb Corp. during the second quarter worth approximately $186,246,000. FMR LLC raised its position in shares of Chubb Corp. by 3.4% in the second quarter. FMR LLC now owns 30,580,436 shares of the company’s stock worth $3,997,169,000 after buying an additional 1,018,879 shares during the period. Stifel Financial Corp bought a new position in shares of Chubb Corp. during the second quarter worth approximately $124,812,000. Vanguard Group Inc. raised its position in shares of Chubb Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 30,833,714 shares of the company’s stock worth $4,030,275,000 after buying an additional 904,128 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Chubb Corp. during the second quarter worth approximately $62,310,000. 85.22% of the stock is currently owned by institutional investors and hedge funds.
Chubb Corp. (NYSE:CB) traded up 0.09% on Monday, reaching $126.76. 1,576,243 shares of the company were exchanged. The stock has a 50-day moving average price of $125.41 and a 200 day moving average price of $126.15. The stock has a market capitalization of $58.99 billion, a price-to-earnings ratio of 16.98 and a beta of 0.86. Chubb Corp. has a 52 week low of $106.82 and a 52 week high of $131.00.
Chubb Corp. (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $2.88 EPS for the quarter, beating the Zacks’ 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 company had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.36 billion. During the same period in the prior year, the firm posted $2.37 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Analysts forecast that Chubb Corp. will post $9.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, December 30th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.18%. Chubb Corp.’s dividend payout ratio is presently 36.90%.
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Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Chubb Corp. from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Tuesday, November 22nd. William Blair lowered shares of Chubb Corp. from a “market perform” rating to an “underperform” rating in a report on Thursday, November 17th. Barclays PLC reissued a “buy” rating on shares of Chubb Corp. in a report on Friday, November 18th. Finally, Citigroup Inc. assumed coverage on shares of Chubb Corp. in a report on Tuesday, November 22nd. They set a “buy” rating and a $147.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Chubb Corp. has a consensus rating of “Buy” and a consensus price target of $133.53.
In other Chubb Corp. news, EVP Sean Ringsted sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $126.50, for a total value of $506,000.00. Following the sale, the executive vice president now directly owns 150,192 shares of the company’s stock, valued at approximately $18,999,288. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David H. Sidwell acquired 830 shares of the company’s stock in a transaction on Monday, September 26th. The stock was purchased at an average cost of $124.90 per share, for a total transaction of $103,667.00. Following the completion of the transaction, the director now owns 7,386 shares in the company, valued at approximately $922,511.40. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by company insiders.
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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