Canandaigua National Bank & Trust Co. Sells 75 Shares of Chubb Limited $CB

Canandaigua National Bank & Trust Co. decreased its stake in shares of Chubb Limited (NYSE:CB) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,015 shares of the financial services provider’s stock after selling 75 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Chubb were worth $1,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. RMR Wealth Builders boosted its holdings in shares of Chubb by 4.5% during the 2nd quarter. RMR Wealth Builders now owns 4,737 shares of the financial services provider’s stock worth $1,377,000 after buying an additional 205 shares during the period. Apella Capital LLC bought a new stake in shares of Chubb during the 2nd quarter worth about $221,000. Parallel Advisors LLC boosted its holdings in Chubb by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 6,415 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 198 shares during the period. Greenfield Savings Bank boosted its holdings in Chubb by 3.3% in the 2nd quarter. Greenfield Savings Bank now owns 2,536 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 82 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Chubb by 12.6% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,439 shares of the financial services provider’s stock valued at $4,183,000 after purchasing an additional 1,618 shares during the period. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $274.03 on Tuesday. The firm’s fifty day moving average price is $274.26 and its two-hundred day moving average price is $283.34. The stock has a market cap of $109.25 billion, a PE ratio of 12.09, a PEG ratio of 3.14 and a beta of 0.56. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

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

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid 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 presently 17.12%.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CB shares. Barclays downgraded shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $321.00 to $298.00 in a report on Monday, July 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Hsbc Global Res downgraded shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.