Watch Point Trust Co purchased a new stake in shares of Chubb Ltd (NYSE:CB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,510 shares of the financial services provider’s stock, valued at approximately $222,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in CB. Mcmillion Capital Management Inc. bought a new stake in shares of Chubb during the second quarter valued at approximately $27,000. JNBA Financial Advisors raised its position in shares of Chubb by 223.2% in the second quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of Chubb in the first quarter valued at about $28,000. Meridian Wealth Management LLC acquired a new stake in shares of Chubb in the second quarter valued at about $28,000. Finally, QCM Cayman Ltd. raised its position in shares of Chubb by 90.5% in the first quarter. QCM Cayman Ltd. now owns 21,359 shares of the financial services provider’s stock valued at $33,000 after buying an additional 10,148 shares during the last quarter. 89.39% of the stock is owned by institutional investors.
In related news, CEO Evan G. Greenberg sold 215,648 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the completion of the sale, the chief executive officer now directly owns 1,002,730 shares in the company, valued at $149,246,333.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John J. Lupica sold 10,400 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $146.37, for a total transaction of $1,522,248.00. Following the sale, the insider now owns 174,037 shares of the company’s stock, valued at $25,473,795.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 355,821 shares of company stock valued at $53,008,187. 0.47% of the stock is owned by company insiders.
A number of equities research analysts have recently commented on CB shares. Morgan Stanley increased their target price on shares of Chubb from $154.00 to $163.00 and gave the company an “equal weight” rating in a research report on Thursday. Compass Point cut shares of Chubb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. ValuEngine cut shares of Chubb from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co increased their target price on shares of Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Finally, UBS Group increased their target price on shares of Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $153.00.
Chubb stock traded up $0.74 during midday trading on Thursday, hitting $153.43. 35,349 shares of the stock were exchanged, compared to its average volume of 1,777,081. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $160.23. The firm has a market cap of $69.83 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.72. The stock’s 50-day moving average price is $151.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.32 and a quick ratio of 0.32.
Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.02. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The firm had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business earned $2.68 earnings per share. Chubb’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Chubb Ltd will post 10.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, September 19th. Chubb’s payout ratio is currently 31.78%.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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