First American Trust FSB grew its position in Chubb Ltd (NYSE:CB) by 21.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,718 shares of the financial services provider’s stock after buying an additional 7,113 shares during the period. Chubb makes up 1.3% of First American Trust FSB’s investment portfolio, making the stock its 21st largest holding. First American Trust FSB’s holdings in Chubb were worth $5,260,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Meristem Family Wealth LLC raised its stake in shares of Chubb by 2.9% in the 3rd quarter. Meristem Family Wealth LLC now owns 2,766 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 79 shares during the period. Rehmann Capital Advisory Group lifted its position in Chubb by 5.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,844 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 89 shares in the last quarter. Garde Capital Inc. lifted its position in Chubb by 1.6% in the 3rd quarter. Garde Capital Inc. now owns 6,355 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 100 shares in the last quarter. CENTRAL TRUST Co lifted its position in Chubb by 0.5% in the 4th quarter. CENTRAL TRUST Co now owns 20,259 shares of the financial services provider’s stock valued at $2,617,000 after acquiring an additional 105 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in Chubb in the 4th quarter valued at about $37,000. Institutional investors own 87.58% of the company’s stock.
Several research analysts have commented on CB shares. Wells Fargo & Co reissued a “buy” rating and issued a $169.00 price target on shares of Chubb in a report on Wednesday, October 10th. Zacks Investment Research upgraded shares of Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Citigroup decreased their price objective on shares of Chubb from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, October 12th. Deutsche Bank lifted their price objective on shares of Chubb from $122.00 to $123.00 and gave the company a “sell” rating in a research note on Tuesday, December 4th. Finally, Morgan Stanley decreased their price objective on shares of Chubb from $166.00 to $153.00 and set an “overweight” rating for the company in a research note on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $155.78.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.02. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.63 billion. Chubb had a net margin of 15.37% and a return on equity of 9.71%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS. On average, sell-side analysts anticipate that Chubb Ltd will post 9.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 21st will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 20th. Chubb’s dividend payout ratio (DPR) is 36.36%.
Chubb announced that its Board of Directors has approved a stock repurchase program on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In other news, Director Michael G. Atieh sold 1,200 shares of Chubb stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $133.27, for a total transaction of $159,924.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,242 shares of company stock valued at $165,544. Insiders own 0.44% of the company’s stock.
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Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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