Chubb Limited $CB Position Increased by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN increased its stake in Chubb Limited by 64.7% in Q2, now holding 6,937 shares valued at approximately $2,010,000.
• Chubb's recent earnings report showed $6.14 earnings per share, surpassing analysts' estimates of $5.84, with quarterly revenue at $14.20 billion.
• The company announced a quarterly dividend of $0.97 per share, representing a 1.4% yield and a payout ratio of 17.12%.

OLD National Bancorp IN boosted its holdings in Chubb Limited (NYSE:CB - Free Report) by 64.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,937 shares of the financial services provider's stock after buying an additional 2,724 shares during the quarter. OLD National Bancorp IN's holdings in Chubb were worth $2,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GQG Partners LLC lifted its holdings in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Nuveen LLC purchased a new stake in Chubb during the first quarter valued at about $562,221,000. Demars Financial Group LLC boosted its holdings in shares of Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after buying an additional 878,177 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Chubb by 1,243.9% in the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock worth $205,491,000 after buying an additional 629,822 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock worth $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Performance

Shares of NYSE CB opened at $286.37 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The business's 50-day moving average price is $275.17 and its two-hundred day moving average price is $282.03. The company has a market capitalization of $114.17 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $5.38 EPS. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb's payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CB. UBS Group decreased their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Wells Fargo & Company lowered their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald raised Chubb to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, six 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, the company has an average rating of "Hold" and a consensus target price of $303.72.

Chubb Profile

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.

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