US Bancorp DE Lowers Holdings in Chubb Limited (NYSE:CB)

by · The Cerbat Gem

US Bancorp DE reduced its position in Chubb Limited (NYSE:CBFree Report) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 615,064 shares of the financial services provider’s stock after selling 17,903 shares during the quarter. US Bancorp DE’s holdings in Chubb were worth $185,743,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Chubb in the fourth quarter worth $205,000. Bank Pictet & Cie Europe AG acquired a new stake in Chubb in the fourth quarter valued at $1,320,000. Edmond DE Rothschild Holding S.A. lifted its holdings in Chubb by 21.6% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 900 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 160 shares during the period. Finally, RFG Bristol Wealth Advisors LLC purchased a new stake in shares of Chubb during the 4th quarter worth $330,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Evercore ISI set a $312.00 price target on shares of Chubb in a research report on Wednesday, July 23rd. Barclays cut Chubb from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped their target price on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $303.14.

Read Our Latest Research Report on Chubb

Insider Buying and Selling at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.77% of the company’s stock.

Chubb Trading Down 0.2%

Chubb stock opened at $265.99 on Friday. The stock has a 50-day moving average price of $282.61 and a 200 day moving average price of $282.34. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The stock has a market cap of $106.05 billion, a PE ratio of 11.73, a P/E/G ratio of 3.03 and a beta of 0.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CBGet Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The company 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 firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $5.38 EPS. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.5%. Chubb’s payout ratio is presently 17.12%.

Chubb declared that its board has approved a share buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Chubb Profile

(Free Report)

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.

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