Culbertson A N & Co. Inc. Purchases 11,143 Shares of Chubb Limited $CB

Key Points

• Culbertson A N & Co. purchased 11,143 Chubb shares worth approximately $3.624 million during the third quarter. Institutional investors collectively own 83.81% of Chubb’s stock.
• Chubb reported strong third-quarter results, with EPS of $7.66 versus the $6.77 consensus and revenue of $16.20 billion versus expectations of $15.71 billion.
• Analyst sentiment remains mixed: Chubb has an average “Hold” rating and a $360.95 average price target, while the stock traded near $363.93. The company also pays a quarterly dividend of $1.02 per share, yielding about 1.1%.

Culbertson A N & Co. Inc. bought a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,143 shares of the financial services provider's stock, valued at approximately $3,624,000.

A number of other hedge funds have also added to or reduced their stakes in CB. XXEC Inc. acquired a new position in Chubb during the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc bought a new stake in Chubb during the 2nd quarter valued at $11,670,067,000. BlackRock Inc. bought a new stake in Chubb during the 2nd quarter worth approximately $9,913,336,000. GQG Partners LLC bought a new position in shares of Chubb during the 2nd quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE increased its position in shares of Chubb by 3.1% during the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider's stock valued at $1,599,868,000 after acquiring an additional 147,876 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CB shares. Citizens Jmp reaffirmed a "market outperform" rating and set a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their target price on Chubb from $374.00 to $371.00 and set a "neutral" rating for the company in a research report on Friday, October 9th. Citigroup restated a "buy" rating and issued a $405.00 target price (up from $395.00) on shares of Chubb in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on Chubb from $343.00 to $366.00 and gave the stock an "equal weight" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $360.95.

Trending Headlines about Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Third-quarter earnings beat expectations. Chubb reported $7.66 in earnings per share versus the $6.77 consensus estimate, while revenue of $16.20 billion exceeded forecasts of $15.71 billion. Record investment income and higher life-insurance income helped offset rising catastrophe losses. Chubb Q3 Earnings Beat Estimates on Investment and Life Income Growth
• Positive Sentiment: Underlying operating performance remained strong. Core operating income reached $2.98 billion, and Overseas General property and casualty premiums grew 6.7%, supporting the view that Chubb continues to generate solid underwriting and premium growth. Chubb: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Analyst sentiment improved modestly. Wells Fargo raised its price target to $366 from $343, and Zacks upgraded Chubb to a Rank #2, or Buy, reflecting greater confidence in the company’s earnings outlook. Wells Fargo Adjusts Chubb Price Target
• Neutral Sentiment: Other analysts raised targets but maintained cautious ratings. Deutsche Bank lifted its target to $361 from $354 while retaining a Hold rating, and Mizuho raised its target to $350 while keeping a Neutral rating. Deutsche Bank Adjusts Chubb Price Target
• Negative Sentiment: Valuation and limited upside remain concerns. Chubb’s consensus price target is $358.36, below the current trading level, while Cantor Fitzgerald maintains a $333 target and Barclays retains a Hold rating. Commentary also suggests the strong third-quarter results may already be reflected in the share price. Chubb Consensus Price Target

Chubb Stock Performance

Shares of CB opened at $363.93 on Friday. Chubb Limited has a 12-month low of $273.35 and a 12-month high of $365.91. The company has a current ratio of 0.35, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $140.40 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The stock has a 50-day moving average price of $341.45 and a 200-day moving average price of $337.32.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion for the quarter, compared to analysts' expectations of $15.71 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter last year, the company posted $7.49 EPS. As a group, equities analysts forecast that Chubb Limited will post 27.72 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb's dividend payout ratio (DPR) is presently 14.43%.

Insider Buying and Selling

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The stock was 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 owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company's stock.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

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