Commerce Bank Raises Position in Chubb Limited (NYSE:CB)

by · The Markets Daily

Commerce Bank lifted its holdings in shares of Chubb Limited (NYSE:CB – Free Report) by 1.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 206,569 shares of the financial services provider’s stock after acquiring an additional 2,557 shares during the period. Commerce Bank’s holdings in Chubb were worth $62,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CB. Canopy Partners LLC increased its stake in shares of Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 2,340 shares during the last quarter. Legato Capital Management LLC boosted its position in shares of Chubb by 120.9% in the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after acquiring an additional 5,582 shares during the last quarter. Davis Rea LTD. purchased a new stake in Chubb in the first quarter valued at approximately $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 366,559 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Chubb by 3.3% during the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after purchasing an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 0.2%

Shares of NYSE:CB opened at $265.99 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a 50 day moving average of $282.61 and a two-hundred day moving average of $282.34. The company has a market capitalization of $106.05 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53.

Chubb (NYSE:CB – Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.38 earnings per share. As a group, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

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

Chubb announced that its board has authorized a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research analyst reports. Barclays lowered shares of Chubb from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. Deutsche Bank Aktiengesellschaft cut Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a report on Tuesday, May 20th. UBS Group lowered their price target on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research report on Monday. Evercore ISI set a $312.00 price objective on Chubb in a report on Wednesday, July 23rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.14.

Check Out Our Latest Report on Chubb

Insider Activity

In other Chubb news, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock worth $29,163,135 over the last ninety days. Corporate insiders own 0.77% of the company’s stock.

Chubb Company 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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