Park National Corp OH cut its position in Chubb Limited (NYSE:CB) by 25.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,597 shares of the financial services provider’s stock after selling 11,331 shares during the period. Park National Corp OH’s holdings in Chubb were worth $5,149,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CB. Capstone Triton Financial Group LLC acquired a new stake in shares of Chubb during the fourth quarter worth $25,000. RWM Asset Management LLC acquired a new stake in shares of Chubb during the fourth quarter worth $26,000. Arlington Partners LLC acquired a new stake in shares of Chubb during the fourth quarter worth $27,000. Addison Advisors LLC acquired a new stake in shares of Chubb during the fourth quarter worth $28,000. Finally, Mcmillion Capital Management Inc. acquired a new stake in shares of Chubb during the fourth quarter worth $28,000. Institutional investors own 85.79% of the company’s stock.
In related news, Vice Chairman Paul J. Krump sold 6,250 shares of Chubb stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $160.06, for a total transaction of $1,000,375.00. Following the completion of the sale, the insider now owns 108,021 shares of the company’s stock, valued at approximately $17,289,841.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Paul J. Krump sold 5,600 shares of Chubb stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $165.05, for a total transaction of $924,280.00. Following the sale, the insider now directly owns 101,921 shares of the company’s stock, valued at approximately $16,822,061.05. The disclosure for this sale can be found here. Insiders have sold a total of 22,087 shares of company stock valued at $3,690,300 in the last ninety days. 0.37% of the stock is currently owned by insiders.
Shares of CB opened at $159.29 on Thursday. The firm has a 50-day moving average of $165.18 and a 200-day moving average of $148.74. Chubb Limited has a one year low of $93.10 and a one year high of $179.01. The company has a market cap of $71.72 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32.
Chubb (NYSE:CB) last announced its quarterly earnings data on Monday, February 1st. The financial services provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.36. Chubb had a net margin of 6.24% and a return on equity of 5.33%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same quarter last year, the firm posted $2.28 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts expect that Chubb Limited will post 7.02 earnings per share for the current year.
Chubb announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 3rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Investors of record on Friday, March 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, March 18th. Chubb’s payout ratio is 30.86%.
A number of equities research analysts recently commented on the stock. MKM Partners raised their price objective on shares of Chubb from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, March 18th. Citigroup raised their target price on shares of Chubb from $178.00 to $187.00 in a research report on Wednesday, March 31st. Bank of America downgraded shares of Chubb from a “neutral” rating to an “underperform” rating and raised their target price for the company from $132.00 to $138.00 in a research report on Tuesday, December 22nd. Morgan Stanley raised their target price on shares of Chubb from $149.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 12th. Finally, Raymond James raised their target price on shares of Chubb from $190.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Wednesday, March 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Chubb currently has an average rating of “Buy” and a consensus price target of $163.17.
Chubb Limited, through its subsidiaries, 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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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