Czech National Bank Raises Stake in Chubb Limited $CB

Key Points

• The Czech National Bank increased its holdings in Chubb Limited by 6.4% during the second quarter, owning a total of 91,095 shares valued at approximately $26.39 million.
• Chubb reported earnings of $6.14 per share for the last quarter, exceeding analysts' estimates of $5.84, with total revenue reaching $14.20 billion.
• The company announced a quarterly dividend of $0.97 per share, which equates to an annual yield of 1.4%, with payment scheduled for October 3rd.

Czech National Bank grew its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,095 shares of the financial services provider's stock after purchasing an additional 5,502 shares during the quarter. Czech National Bank's holdings in Chubb were worth $26,392,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CB. MassMutual Private Wealth & Trust FSB raised its position in Chubb by 1.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 100,298 shares of the financial services provider's stock worth $29,058,000 after acquiring an additional 987 shares in the last quarter. Little House Capital LLC raised its position in Chubb by 163.9% during the second quarter. Little House Capital LLC now owns 6,167 shares of the financial services provider's stock worth $1,787,000 after acquiring an additional 3,830 shares in the last quarter. Everpar Advisors LLC raised its position in Chubb by 39.9% during the second quarter. Everpar Advisors LLC now owns 1,023 shares of the financial services provider's stock worth $296,000 after acquiring an additional 292 shares in the last quarter. Webster Bank N. A. raised its position in Chubb by 2.9% during the second quarter. Webster Bank N. A. now owns 5,049 shares of the financial services provider's stock worth $1,463,000 after acquiring an additional 143 shares in the last quarter. Finally, RMR Wealth Builders raised its position in Chubb by 4.5% during the second quarter. RMR Wealth Builders now owns 4,737 shares of the financial services provider's stock worth $1,377,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CB shares. Morgan Stanley dropped their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and dropped their price objective for the company from $317.00 to $300.00 in a research report on Friday, August 1st. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Piper Sandler restated a "neutral" rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Evercore ISI set a $312.00 price target on shares of Chubb in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $303.06.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat acquired 425 shares of the company's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. 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 Chubb stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

Chubb Stock Down 0.1%

Shares of Chubb stock traded down $0.28 during trading on Friday, reaching $274.00. 3,627,677 shares of the company traded hands, compared to its average volume of 1,736,191. 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 1-year low of $252.16 and a 1-year high of $306.91. The company has a 50 day moving average price of $273.76 and a 200-day moving average price of $283.01. The firm has a market capitalization of $109.24 billion, a PE ratio of 12.09, a P/E/G ratio of 3.09 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating 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 firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the company posted $5.38 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio (DPR) is 17.12%.

Chubb Company 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.