Chubb Limited (NYSE:CB) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN increased its holdings in Chubb Limited (NYSE:CB) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,213 shares of the financial services provider’s stock after purchasing an additional 172 shares during the quarter. OLD National Bancorp IN’s holdings in Chubb were worth $1,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CB. Demars Financial Group LLC raised its stake in Chubb by 26,761.4% in the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after purchasing an additional 5,340,499 shares during the last quarter. Norges Bank acquired a new position in shares of Chubb during the 4th quarter worth about $1,169,720,000. Raymond James Financial Inc. purchased a new stake in Chubb during the fourth quarter worth about $1,158,897,000. GAMMA Investing LLC raised its holdings in Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock valued at $629,357,000 after buying an additional 2,078,390 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after acquiring an additional 1,403,545 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CB shares. Raymond James reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Jefferies Financial Group boosted their price objective on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Barclays lowered their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Morgan Stanley lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Finally, UBS Group upped their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.53.

Chubb Trading Down 1.4%

Shares of NYSE:CB opened at $289.83 on Tuesday. The business has a 50 day moving average of $287.40 and a 200-day moving average of $281.71. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market cap of $116.14 billion, a PE ratio of 12.76, a P/E/G ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at $5,820,978.04. The trade was a 3.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the transaction, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,825 shares of company stock valued at $32,889,194 over the last quarter. 0.77% of the stock is owned by company insiders.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.