Penobscot Investment Management Company Inc. Buys 45 Shares of Chubb Limited $CB

Penobscot Investment Management Company Inc. raised its stake in Chubb Limited (NYSE:CB) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,602 shares of the financial services provider’s stock after buying an additional 45 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Chubb were worth $2,492,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $25,000. North Capital Inc. bought a new stake in shares of Chubb in the 1st quarter valued at about $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the 1st quarter valued at about $31,000. 1248 Management LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $31,000. Finally, WPG Advisers LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $33,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CB. Wells Fargo & Company reduced their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 24th. Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Piper Sandler reissued a “neutral” rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Wolfe Research raised Chubb to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley dropped their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $303.24.

Insiders Place Their Bets

In other news, Director Michael Corbat purchased 425 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Chubb Stock Up 0.9%

CB stock opened at $283.99 on Friday. The stock’s 50 day simple moving average is $274.76 and its 200 day simple moving average is $282.25. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $113.22 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the business earned $5.38 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

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.