Huntington National Bank Boosts Holdings in Chubb Limited $CB

Huntington National Bank raised its holdings in shares of Chubb Limited (NYSE:CB) by 9.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 392,270 shares of the financial services provider’s stock after acquiring an additional 34,456 shares during the quarter. Huntington National Bank owned approximately 0.10% of Chubb worth $113,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CB. GQG Partners LLC increased its holdings in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Chubb in the first quarter worth approximately $562,221,000. Ameriprise Financial Inc. boosted its position in shares of Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after acquiring an additional 304,751 shares during the last quarter. Citigroup Inc. boosted its position in shares of Chubb by 79.0% in the first quarter. Citigroup Inc. now owns 631,628 shares of the financial services provider’s stock worth $190,745,000 after acquiring an additional 278,697 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Chubb by 19.6% in the first quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock worth $423,826,000 after acquiring an additional 231,404 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Trading Up 0.4%

NYSE CB opened at $278.03 on Tuesday. The company’s fifty day simple moving average is $277.87 and its 200-day simple moving average is $280.56. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The stock has a market cap of $109.42 billion, a P/E ratio of 11.60, a PEG ratio of 2.74 and a beta of 0.54.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the previous year, the company posted $5.72 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s payout ratio is 16.19%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CB shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $300.00 target price on shares of Chubb in a research report on Monday, October 27th. Bank of America raised their target price on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. HSBC raised their price target on shares of Chubb from $302.00 to $304.00 in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Citigroup raised their price target on shares of Chubb from $326.00 to $331.00 and gave the company a “buy” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus target price of $307.79.

Insider Activity

In related news, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the sale, the insider owned 90,600 shares in the company, valued at approximately $25,458,600. The trade was a 20.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

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.