Trust Point Inc. Raises Position in Chubb Limited $CB

Trust Point Inc. lifted its stake in shares of Chubb Limited (NYSE:CB) by 80.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,146 shares of the financial services provider’s stock after buying an additional 960 shares during the quarter. Trust Point Inc.’s holdings in Chubb were worth $622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CB. Peoples Bank KS purchased a new position in Chubb in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Chubb in the 1st quarter valued at approximately $25,000. North Capital Inc. purchased a new position in Chubb in the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new position in Chubb in the 1st quarter valued at approximately $31,000. Finally, 1248 Management LLC purchased a new position in Chubb in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 425 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

Chubb Stock Up 0.8%

Shares of NYSE:CB opened at $274.36 on Friday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $109.38 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 3.07 and a beta of 0.56. The firm has a fifty day moving average price of $273.84 and a two-hundred day moving average price of $283.08.

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

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s payout ratio is currently 17.12%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of recent research reports. UBS Group reduced their price objective on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Morgan Stanley reduced their price objective on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Barclays downgraded shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $303.06.

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.