Community Bank N.A. Grows Position in Chubb Limited (NYSE:CB)

Community Bank N.A. raised its holdings in Chubb Limited (NYSE:CB) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,999 shares of the financial services provider’s stock after acquiring an additional 436 shares during the quarter. Community Bank N.A.’s holdings in Chubb were worth $4,529,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CB. Peoples Bank KS acquired a new position in Chubb during the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the first quarter valued at $25,000. Sierra Ocean LLC purchased a new position in shares of Chubb in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Chubb during the 4th quarter worth $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after buying an additional 89 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $283.87 on Wednesday. The company has a market cap of $113.76 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.19 and a beta of 0.54. The business has a fifty day simple moving average of $287.94 and a 200-day simple moving average of $281.66. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.37%. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s payout ratio is presently 18.67%.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. The trade was a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer now owns 237,728 shares of the company’s stock, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,108 shares of company stock valued at $31,169,977. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley raised their target price 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. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Piper Sandler lifted their price objective on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Raymond James Financial reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Finally, Barclays dropped their price target on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average price target of $307.53.

Chubb Profile

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.