First Merchants Corp Has $3,115,000 Position in Chubb Corp. (CB)
First Merchants Corp boosted its stake in shares of Chubb Corp. (NYSE:CB) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 23,832 shares of the company’s stock after buying an additional 279 shares during the period. First Merchants Corp’s holdings in Chubb Corp. were worth $3,115,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in CB. Integrated Investment Consultants LLC increased its stake in shares of Chubb Corp. by 14.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,011 shares of the company’s stock valued at $132,000 after buying an additional 128 shares during the period. Howard Hughes Medical Institute purchased a new stake in shares of Chubb Corp. during the first quarter valued at $133,000. Manchester Capital Management LLC increased its stake in shares of Chubb Corp. by 137.1% in the first quarter. Manchester Capital Management LLC now owns 1,264 shares of the company’s stock valued at $151,000 after buying an additional 731 shares during the period. North American Management Corp purchased a new stake in shares of Chubb Corp. during the second quarter valued at $202,000. Finally, Guardian Life Insurance Co of America increased its stake in shares of Chubb Corp. by 58.3% in the first quarter. Guardian Life Insurance Co of America now owns 1,705 shares of the company’s stock valued at $203,000 after buying an additional 628 shares during the period. 87.27% of the stock is owned by institutional investors.
Chubb Corp. (NYSE:CB) traded down 0.10% on Tuesday, hitting $125.16. 781,123 shares of the company were exchanged. The company has a market capitalization of $58.21 billion, a P/E ratio of 20.73 and a beta of 1.00. The firm’s 50 day moving average is $126.20 and its 200 day moving average is $124.31. Chubb Corp. has a 52 week low of $100.11 and a 52 week high of $131.00.
Chubb Corp. (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by $0.20. Chubb Corp. had a net margin of 9.35% and a return on equity of 9.92%. The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The company’s revenue for the quarter was up 59.7% compared to the same quarter last year. On average, equities research analysts forecast that Chubb Corp. will post $9.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.76 dividend on an annualized basis and a yield of 2.21%. Chubb Corp.’s payout ratio is 44.37%.
Several equities research analysts recently issued reports on CB shares. MKM Partners restated a “buy” rating and issued a $150.00 target price (up previously from $140.00) on shares of Chubb Corp. in a report on Friday, July 15th. Credit Suisse Group AG set a $136.00 target price on shares of Chubb Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Chubb Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. BMO Capital Markets cut shares of Chubb Corp. from an “outperform” rating to a “market perform” rating and set a $136.00 target price on the stock. in a report on Monday, July 11th. They noted that the move was a valuation call. Finally, Citigroup Inc. restated a “neutral” rating on shares of Chubb Corp. in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $130.13.
In other news, EVP Sean Ringsted sold 15,570 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $125.00, for a total value of $1,946,250.00. Following the sale, the executive vice president now owns 169,762 shares in the company, valued at $21,220,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Scully acquired 10,725 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $125.95 per share, for a total transaction of $1,350,813.75. Following the purchase, the director now directly owns 5,779 shares of the company’s stock, valued at $727,865.05. The disclosure for this purchase can be found here. Company insiders own 0.43% of the company’s stock.
About Chubb Corp.
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