Heritage Trust Co Lowers Holdings in Chubb Limited (NYSE:CB)

Heritage Trust Co lowered its position in shares of Chubb Limited (NYSE:CB) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,732 shares of the financial services provider’s stock after selling 110 shares during the quarter. Heritage Trust Co’s holdings in Chubb were worth $898,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. lifted its holdings in shares of Chubb by 9.2% in the 3rd quarter. Oakworth Capital Inc. now owns 893 shares of the financial services provider’s stock valued at $104,000 after buying an additional 75 shares during the period. Winslow Evans & Crocker Inc. boosted its position in shares of Chubb by 8.7% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,100 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 88 shares in the last quarter. Pacifica Partners Inc. increased its holdings in shares of Chubb by 18.0% in the 3rd quarter. Pacifica Partners Inc. now owns 590 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 90 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of Chubb by 1.7% in the second quarter. Profund Advisors LLC now owns 5,949 shares of the financial services provider’s stock valued at $753,000 after purchasing an additional 97 shares during the period. Finally, Saturna Capital CORP lifted its stake in shares of Chubb by 2.7% in the third quarter. Saturna Capital CORP now owns 3,863 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 100 shares during the period. Institutional investors own 76.80% of the company’s stock.

A number of research firms have recently issued reports on CB. Raymond James upgraded shares of Chubb from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $150.00 to $180.00 in a research report on Tuesday, November 24th. Barclays assumed coverage on Chubb in a report on Tuesday, November 17th. They set an “overweight” rating and a $171.00 price objective for the company. MKM Partners upped their target price on Chubb from $150.00 to $180.00 in a report on Friday. Zacks Investment Research cut Chubb from a “hold” rating to a “strong sell” rating and set a $97.00 price target for the company. in a research report on Wednesday, September 30th. Finally, TheStreet upgraded shares of Chubb from a “c” rating to a “b-” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $151.35.

In other news, Director Theodore Shasta sold 948 shares of the company’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $151.87, for a total transaction of $143,972.76. Following the completion of the sale, the director now directly owns 15,738 shares in the company, valued at approximately $2,390,130.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 132,504 shares of the company’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $148.86, for a total value of $19,724,545.44. Following the sale, the chief executive officer now owns 814,578 shares of the company’s stock, valued at $121,258,081.08. The disclosure for this sale can be found here. Insiders sold 146,031 shares of company stock worth $21,697,079 over the last three months. Corporate insiders own 0.37% of the company’s stock.

CB stock opened at $147.83 on Tuesday. The stock has a market capitalization of $66.73 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.59. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. Chubb Limited has a 52-week low of $87.35 and a 52-week high of $167.74. The stock’s fifty day simple moving average is $136.79 and its 200-day simple moving average is $127.36.

Chubb (NYSE:CB) last released its earnings results on Sunday, November 1st. The financial services provider reported $2.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.19). Chubb had a return on equity of 5.33% and a net margin of 6.24%. The business had revenue of $10.09 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the company posted $2.70 earnings per share. As a group, analysts anticipate that Chubb Limited will post 7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, December 18th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $3.12 annualized dividend and a dividend yield of 2.11%. Chubb’s payout ratio is currently 30.86%.

Chubb announced that its Board of Directors has initiated a share buyback program on Thursday, November 19th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About Chubb

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, casualty, workers' compensation, package policies, 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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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