Smithfield Trust Co Raises Position in Chubb Limited (NYSE:CB)

Smithfield Trust Co boosted its stake in Chubb Limited (NYSE:CB) by 14.3% during the third quarter, HoldingsChannel reports. The firm owned 1,446 shares of the financial services provider’s stock after buying an additional 181 shares during the period. Smithfield Trust Co’s holdings in Chubb were worth $417,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc lifted its holdings in Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after acquiring an additional 104,986 shares during the period. Lazard Asset Management LLC increased its holdings in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares during the last quarter. Raymond James & Associates lifted its position in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after purchasing an additional 87,059 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Chubb by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock valued at $586,207,000 after acquiring an additional 160,335 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Barclays began coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley raised their price target on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $287.37.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock valued at $23,803,540 over the last ninety days. 0.86% of the stock is owned by company insiders.

Chubb Price Performance

Chubb stock opened at $285.35 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $115.02 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 6.62 and a beta of 0.67. The firm has a 50-day moving average of $287.54 and a two-hundred day moving average of $274.03. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same period last year, the business posted $4.95 EPS. Chubb’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts forecast that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. Chubb’s payout ratio is presently 14.91%.

About Chubb

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.