Comerica Bank Has $17.40 Million Holdings in Chubb Ltd (CB)

Comerica Bank lowered its stake in Chubb Ltd (NYSE:CB) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 137,293 shares of the financial services provider’s stock after selling 22,215 shares during the quarter. Comerica Bank’s holdings in Chubb were worth $17,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CB. Atlantic Trust LLC bought a new position in Chubb in the 2nd quarter worth about $102,000. ELM Advisors LLC bought a new position in Chubb in the 3rd quarter worth about $103,000. Legacy Advisors LLC boosted its stake in Chubb by 1,612.0% in the 3rd quarter. Legacy Advisors LLC now owns 856 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 806 shares during the period. FNY Investment Advisers LLC bought a new position in Chubb in the 2nd quarter worth about $127,000. Finally, Edge Wealth Management LLC bought a new position in Chubb in the 2nd quarter worth about $133,000. Institutional investors and hedge funds own 85.89% of the company’s stock.

A number of brokerages have recently issued reports on CB. Barclays dropped their price target on Chubb from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. Credit Suisse Group began coverage on Chubb in a research report on Tuesday, August 7th. They set a “neutral” rating and a $150.00 price target for the company. Wells Fargo & Co reiterated a “buy” rating and set a $169.00 price target on shares of Chubb in a research report on Tuesday, July 24th. Zacks Investment Research downgraded Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, Citigroup lifted their price target on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $158.56.

Shares of CB opened at $126.23 on Monday. The stock has a market cap of $58.17 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a 12-month low of $120.50 and a 12-month high of $157.50.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.39 by $0.02. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. On average, equities analysts forecast that Chubb Ltd will post 9.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 21st were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.31%. Chubb’s dividend payout ratio (DPR) is presently 36.36%.

In related news, insider Timothy Alan Boroughs sold 14,971 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the transaction, the insider now directly owns 202,794 shares of the company’s stock, valued at approximately $28,263,399.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 227,994 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total value of $31,985,278.26. Following the transaction, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,967 shares of company stock valued at $34,072,088. Corporate insiders own 0.44% of the company’s stock.

Chubb Profile

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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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