First Citizens Bank & Trust Co. Purchases 783 Shares of Chubb Limited $CB

First Citizens Bank & Trust Co. raised its stake in shares of Chubb Limited (NYSE:CB) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,272 shares of the financial services provider’s stock after purchasing an additional 783 shares during the period. First Citizens Bank & Trust Co.’s holdings in Chubb were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CB. GQG Partners LLC raised its position in Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Nuveen LLC purchased a new stake in Chubb during the first quarter valued at approximately $562,221,000. Ameriprise Financial Inc. raised its position in Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after purchasing an additional 304,751 shares during the period. Cohen Investment Advisors LLC raised its position in Chubb by 2,408.4% during the first quarter. Cohen Investment Advisors LLC now owns 292,911 shares of the financial services provider’s stock valued at $88,456,000 after purchasing an additional 281,234 shares during the period. Finally, Citigroup Inc. raised its position in Chubb by 79.0% during the first quarter. Citigroup Inc. now owns 631,628 shares of the financial services provider’s stock valued at $190,745,000 after purchasing an additional 278,697 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.4%

Shares of NYSE CB opened at $281.86 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $112.38 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54. The stock’s fifty day simple moving average is $277.65 and its two-hundred day simple moving average is $280.86. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. The business had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.72 EPS. As a group, analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is 16.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CB shares. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research report on Wednesday, August 13th. The Goldman Sachs Group increased their price target on Chubb from $299.00 to $303.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Bank of America increased their price target on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday, October 13th. UBS Group reduced their price target on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Finally, Wolfe Research increased their price target on Chubb from $320.00 to $336.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average price target of $306.16.

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.