Rockland Trust Co. lowered its position in Chubb Limited (NYSE:CB – Free Report) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,147 shares of the financial services provider’s stock after selling 2,202 shares during the quarter. Rockland Trust Co.’s holdings in Chubb were worth $9,805,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Chubb during the second quarter worth about $25,000. Dunhill Financial LLC bought a new stake in Chubb in the second quarter valued at approximately $25,000. Parvin Asset Management LLC bought a new stake in Chubb in the second quarter valued at approximately $26,000. Highland Investment Advisors LLC bought a new stake in Chubb in the second quarter valued at approximately $26,000. Finally, Frazier Financial Advisors LLC lifted its position in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. 83.81% of the stock is owned by institutional investors.
Insider Activity at Chubb
In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.
Chubb Price Performance
Chubb (NYSE:CB – Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $6.14 EPS. Equities research analysts expect that Chubb Limited will post 27.39 earnings per share for the current year.
Chubb Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s dividend payout ratio (DPR) is 14.43%.
Analyst Upgrades and Downgrades
CB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. The Goldman Sachs Group upped their price objective on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Mizuho dropped their price objective on shares of Chubb from $352.00 to $347.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $360.77.
Get Our Latest Research Report on Chubb
Chubb Profile
Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.
The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.
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