Private Trust Co. NA increased its stake in Chubb Limited (NYSE:CB – Get Rating) by 1.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,048 shares of the financial services provider’s stock after buying an additional 55 shares during the quarter. Private Trust Co. NA’s holdings in Chubb were worth $1,080,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its holdings in shares of Chubb by 3.6% in the 4th quarter. First Horizon Advisors Inc. now owns 1,446 shares of the financial services provider’s stock worth $279,000 after buying an additional 50 shares during the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in shares of Chubb by 2.7% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,996 shares of the financial services provider’s stock worth $386,000 after buying an additional 53 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Chubb by 0.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,613 shares of the financial services provider’s stock worth $2,051,000 after buying an additional 57 shares during the last quarter. Monte Financial Group LLC lifted its holdings in Chubb by 1.4% during the fourth quarter. Monte Financial Group LLC now owns 4,291 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 59 shares during the last quarter. Finally, Foster & Motley Inc. lifted its holdings in Chubb by 1.0% during the fourth quarter. Foster & Motley Inc. now owns 5,980 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 59 shares during the last quarter. 88.86% of the stock is currently owned by institutional investors.
In related news, insider John J. Lupica sold 12,004 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $205.41, for a total value of $2,465,741.64. Following the transaction, the insider now directly owns 151,093 shares in the company, valued at $31,036,013.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 500 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $203.49, for a total transaction of $101,745.00. Following the transaction, the director now owns 38,340 shares in the company, valued at $7,801,806.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,824 shares of company stock worth $29,574,333. 0.39% of the stock is owned by company insiders.
Chubb (NYSE:CB – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.30. The company had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $9.95 billion. Chubb had a net margin of 19.65% and a return on equity of 10.30%. During the same period in the prior year, the business earned $2.52 earnings per share. Analysts expect that Chubb Limited will post 14.96 earnings per share for the current fiscal year.
Chubb declared that its Board of Directors has approved a share repurchase plan on Thursday, May 19th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 17th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.75%. This is a boost from Chubb’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, June 16th. Chubb’s dividend payout ratio is 17.68%.
Several research firms have commented on CB. Barclays dropped their price objective on shares of Chubb from $250.00 to $249.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. StockNews.com began coverage on shares of Chubb in a report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of Chubb from $224.00 to $216.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Citigroup began coverage on shares of Chubb in a report on Monday, May 23rd. They set a “neutral” rating and a $209.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Chubb from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.14.
Chubb Company Profile (Get Rating)
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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