November 23, 2016 - By Linda Rogers
Sean Ringsted, the well informed person, who’s currently a EVP – Chief Risk Officer and* of Chubb Ltd sold around 4,000 shares of the company valued by the market at roughly $506,000 U.S Dollars based on an average price of 126.5 U.S Dollars for each share. This sell decreased his ownership of the Company to 0.03% total market cap or 150,192 shares. The transaction was made public in a SEC filing on November 23, 2016.
Out of 14 analysts covering The Chubb Corporation (NYSE:CB), 11 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 79% are positive. $147 is the highest target while $42.0 is the lowest. The $96.70 average target is -23.62% below today’s ($126.61) stock price. The Chubb Corporation has been the topic of 24 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Sandler O’Neill upgraded the stock to “Buy” rating in Wednesday, January 27 report. The firm earned “Hold” rating on Friday, January 22 by Deutsche Bank. The firm has “Buy” rating by Zacks given on Wednesday, August 19. The rating was initiated by Citigroup on Tuesday, November 22 with “Buy”. Zacks upgraded it to “Hold” rating and $136 target price in Friday, August 28 report. BMO Capital Markets downgraded the stock to “Market Perform” rating in Monday, July 11 report. Cowen & Co maintained the shares of CB in a report on Friday, November 6 with “Outperform” rating. The rating was upgraded by Bernstein on Friday, July 31 to “Outperform”. The stock of Chubb Ltd (NYSE:CB) has “Buy” rating given on Wednesday, August 26 by Sterne Agee CRT. As per Tuesday, October 20, the company rating was maintained by Barclays Capital.
Insitutional Activity: The institutional sentiment decreased to 0.15 in Q2 2016. Its down 0.47, from 0.62 in 2016Q1. The ratio dropped, as 9 funds sold all Chubb Ltd shares owned while 4 reduced positions. 3 funds bought stakes while 5 increased positions. They now own 34.15 million shares or 0.64% more from 33.94 million shares in 2016Q1.
The California-based Cap Inc Ca has invested 0.2% in Chubb Ltd (NYSE:CB). Diam Limited reported 48,803 shares or 0.09% of all its holdings. Research Global Invsts last reported 0.02% of its portfolio in the stock. Janney Montgomery Scott Ltd Liability accumulated 0.03% or 18,808 shares. The California-based Ca has invested 0.47% in Chubb Ltd (NYSE:CB). Capital Invsts accumulated 24.09 million shares or 0.85% of the stock. Cap Guardian Tru Company has 950,761 shares for 0.96% of their US portfolio. Sarl holds 0.37% or 32,840 shares in its portfolio. Huntington Bankshares has invested 0.71% of its portfolio in Chubb Ltd (NYSE:CB). Douglass Winthrop holds 0.05% or 6,148 shares in its portfolio. Bedrijfstakpensioenfonds Voor De Media Pno holds 0.27% of its portfolio in Chubb Ltd (NYSE:CB) for 15,539 shares. Patten Grp, a Tennessee-based fund reported 252 shares. Trust Department Mb Bank N A holds 0% of its portfolio in Chubb Ltd (NYSE:CB) for 348 shares. Capital Intl Invsts has 7.91 million shares for 1.52% of their US portfolio. The New York-based Metropolitan Life Co New York has invested 0.24% in Chubb Ltd (NYSE:CB).
Insider Transactions: Since June 2, 2016, the stock had 2 insider buys, and 2 selling transactions for $9.75 million net activity. BANCROFT PHILIP V also sold $9.26 million worth of Chubb Ltd (NYSE:CB) shares. SCULLY ROBERT W had bought 10,725 shares worth $1.35M. 15,570 shares were sold by RINGSTED SEAN, worth $1.95 million on Tuesday, August 2. Another trade for 830 shares valued at $103,667 was made by SIDWELL DAVID H on Monday, September 26.
About 738,248 shares traded hands. Chubb Ltd (NYSE:CB) has risen 7.06% since April 21, 2016 and is uptrending. It has outperformed by 1.73% the S&P500.
Chubb Limited , formerly ACE Limited, is a holding company. The company has a market cap of $58.62 billion. The Company, through its subsidiaries, provides a range of insurance and reinsurance products to insureds across the world. It has a 16.92 P/E ratio. The Company’s divisions 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.
According to Zacks Investment Research, “Chubb Limited is a property and casualty insurance company. It provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance. Chubb Limited, formerly known as ACE Limited, is based in Zurich, Switzerland.”
Analysts await Chubb Ltd (NYSE:CB) to report earnings on January, 24. They expect $2.43 EPS, up 2.10% or $0.05 from last year’s $2.38 per share. CB’s profit will be $1.13 billion for 13.02 P/E if the $2.43 EPS becomes a reality. After $2.88 actual EPS reported by Chubb Ltd for the previous quarter, Wall Street now forecasts -15.63% negative EPS growth.
More notable recent Chubb Ltd (NYSE:CB) news were published by: Reuters.com which released: “BRIEF-Chubb Ltd says board amended organizational regulations of Chubb Lim..” on November 21, 2016, also Reuters.com with their article: “BRIEF-Chubb Ltd board declares quarterly dividend and authorizes share rep..” published on November 17, 2016, Businessinsurance.com published: “Chubb scores victory in key cyber ruling” on June 02, 2016. More interesting news about Chubb Ltd (NYSE:CB) were released by: Wsj.com and their article: “Chubb’s Operating Earnings Soar” published on July 26, 2016 as well as Seekingalpha.com‘s news article titled: “Chubb (CB) Evan G. Greenberg on Q2 2016 Results – Earnings Call Transcript” with publication date: July 27, 2016.
The Chubb Corporation, incorporated in June 1967, is a holding firm for separately organized, property and casualty insurance companies referred to as the Chubb Group of Insurance Companies (the P&C Group). The P&C Group underwrites property and casualty insurance in the United States, Canada, Europe, Australia and parts of Latin America and Asia. The P&C Group operates through three business units: Chubb Personal Insurance, Chubb Commercial Insurance and Chubb Specialty Insurance. For the year ended December 31, 2014, Chubb Personal Insurance, Chubb Commercial Insurance and Chubb Specialty Insurance represented 36%, 43% and 21%, respectively, of the Companyâ€™s total net premiums written.
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By Linda Rogers