Field & Main Bank Acquires New Position in Chubb Limited $CB

Field & Main Bank bought a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 5,587 shares of the financial services provider’s stock, valued at approximately $1,904,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC increased its position in shares of Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 31 shares during the period. Phillips Wealth Planners LLC raised its stake in shares of Chubb by 1.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 31 shares in the last quarter. Hoxton Planning & Management LLC boosted its holdings in Chubb by 4.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 31 shares during the period. South Plains Financial Inc. boosted its holdings in Chubb by 2.2% in the fourth quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 34 shares during the period. Finally, Stock Yards Bank & Trust Co. grew its stake in Chubb by 0.8% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 34 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chubb

In other news, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CB. Keefe, Bruyette & Woods upped their price target on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Cantor Fitzgerald lifted their price objective on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Barclays set a $387.00 price objective on Chubb in a research report on Tuesday, July 7th. Atlantic Securities set a $301.00 target price on shares of Chubb in a research note on Wednesday, July 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $361.00.

Chubb Stock Up 0.6%

Shares of NYSE CB opened at $340.34 on Friday. The company has a market capitalization of $131.30 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39. 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 business has a 50-day moving average of $347.46 and a two-hundred day moving average of $333.97. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91.

Chubb (NYSE:CB) last released 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. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the business posted $6.14 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued 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 is Friday, September 11th. Chubb’s dividend payout ratio is 14.43%.

About Chubb

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.