Chubb Limited $CB Shares Sold by Rockland Trust Co.

Key Points

• Rockland Trust Co. has decreased its position in Chubb Limited by 0.8%, selling 957 shares and now holding 119,523 shares valued at approximately $34.6 million.
• Chubb reported earnings of $6.14 per share for the most recent quarter, exceeding estimates by $0.30, with revenue reaching $14.20 billion, up 6.3% from the previous year.
• The company announced a quarterly dividend of $0.97, indicative of a 1.4% yield with a payout ratio of 17.12%.

Rockland Trust Co. decreased its position in Chubb Limited (NYSE:CB - Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,523 shares of the financial services provider's stock after selling 957 shares during the quarter. Chubb comprises approximately 1.7% of Rockland Trust Co.'s holdings, making the stock its 14th largest position. Rockland Trust Co.'s holdings in Chubb were worth $34,628,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Peoples Bank KS acquired a new stake in shares of Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter valued at $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter valued at $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the first quarter valued at $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb during the first quarter valued at $31,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

Shares of CB stock opened at $274.36 on Friday. 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 fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock's 50-day moving average is $273.84 and its two-hundred day moving average is $283.08. The firm has a market cap of $109.38 billion, a P/E ratio of 12.10, a PEG ratio of 3.07 and a beta of 0.56.

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

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be 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 is Friday, September 12th. Chubb's dividend payout ratio is presently 17.12%.

Analysts Set New Price Targets

Several brokerages have recently commented on CB. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and reduced their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday, August 13th. Wolfe Research raised Chubb to a "strong-buy" rating in a research note on Tuesday. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, UBS Group reduced their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $303.06.

Insider Activity

In other news, Director Michael Corbat bought 425 shares of the company's stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company's stock.

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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