AMG National Trust Bank Purchases Shares of 4,391 Chubb Limited $CB

Key Points

• AMG National Trust Bank initiated a position in Chubb by purchasing 4,391 shares valued at approximately $1.5 million. Institutional investors collectively own 83.81% of the insurer.
• Chubb insiders recently sold shares, including 8,502 shares by EVP Joseph F. Wayland and 23,000 shares by COO John W. Keogh; insiders retain just 0.37% of the company.
• Analysts have a consensus “Hold” rating and a $360.09 price target. Chubb exceeded quarterly EPS estimates, earning $7.26 per share, and declared a $1.02 quarterly dividend, yielding about 1.2% annually.

AMG National Trust Bank purchased a new position in Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,391 shares of the financial services provider's stock, valued at approximately $1,496,000.

A number of other hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc raised its position in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. State Street Corp lifted its holdings in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after buying an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. GQG Partners LLC grew its position in shares of Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock worth $3,895,627,000 after buying an additional 1,647,729 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after buying an additional 513,852 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CB. Citigroup restated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Evercore reiterated an "outperform" rating and issued a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Piper Sandler boosted their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Morgan Stanley upped their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Finally, Mizuho raised their target price on shares of Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $360.09.

Chubb Trading Up 0.0%

NYSE CB opened at $343.80 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The firm has a market capitalization of $132.64 billion, a PE ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39. The stock's 50 day moving average is $344.31 and its 200 day moving average is $332.19.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.14 earnings per share. Research analysts forecast that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb's dividend payout ratio (DPR) is presently 14.43%.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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