Rockland Trust Co. Sells 13,889 Shares of Chubb Limited $CB

Rockland Trust Co. cut its position in Chubb Limited (NYSE:CB) by 30.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,349 shares of the financial services provider’s stock after selling 13,889 shares during the period. Rockland Trust Co.’s holdings in Chubb were worth $11,023,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC raised its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb in the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in Chubb during the 4th quarter worth approximately $31,000. Finally, Ares Financial Consulting LLC bought a new stake in Chubb during the 4th quarter worth approximately $32,000. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

CB stock opened at $350.17 on Friday. The company has a 50 day moving average price of $341.33 and a 200 day moving average price of $330.43. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $135.10 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.39.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.47% and a net margin of 18.10%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $6.14 EPS. Analysts forecast that Chubb Limited will post 27.45 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s payout ratio is currently 14.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price target on Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Morgan Stanley boosted their price objective on Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Bank of America decreased their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. HSBC lowered Chubb from a “buy” rating to a “hold” rating and raised their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $360.09.

Insider Activity

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.