Smithfield Trust Co Boosts Holdings in Chubb Limited (NYSE:CB)

22 Nov 2024, 13:00 by Michael Walen · The Markets Daily

Smithfield Trust Co lifted its position in shares of Chubb Limited (NYSE:CB – Free Report) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,446 shares of the financial services provider’s stock after acquiring an additional 181 shares during the quarter. Smithfield Trust Co’s holdings in Chubb were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Pathway Financial Advisers LLC purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $25,000. Beacon Capital Management LLC raised its stake in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Chilton Capital Management LLC purchased a new position in Chubb in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in Chubb in the second quarter valued at $28,000. Finally, Kozak & Associates Inc. acquired a new stake in shares of Chubb in the 3rd quarter valued at about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of CB stock opened at $285.35 on Friday. The stock has a market cap of $115.02 billion, a P/E ratio of 11.69, a P/E/G ratio of 6.62 and a beta of 0.67. The company has a fifty day moving average price of $287.54 and a two-hundred day moving average price of $274.03. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period in the previous year, the firm earned $4.95 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. Chubb’s dividend payout ratio is 14.91%.

Analyst Ratings Changes

A number of research firms have commented on CB. Evercore ISI raised their target price on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Jefferies Financial Group raised their target price on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, JMP Securities raised their target price on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $287.37.

Read Our Latest Analysis on Chubb

Insider Buying and Selling

In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. This represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,715 shares of company stock valued at $23,803,540. 0.86% of the stock is owned by company insiders.

About Chubb

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