Field & Main Bank Purchases New Stake in Chubb Limited $CB

Key Points

• Field & Main Bank acquired 5,587 Chubb shares worth approximately $1.9 million during the second quarter. Institutional investors and hedge funds collectively own 83.81% of Chubb’s outstanding stock.
• Analysts maintain a generally neutral outlook, with 12 Hold, eight Buy, one Strong Buy and one Sell rating; the consensus price target is $361, modestly above the reported share price of $340.34.
• Chubb reported quarterly EPS of $7.26, beating estimates by $0.49, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02, equivalent to a 1.2% annualized yield.

Field & Main Bank acquired a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,587 shares of the financial services provider's stock, valued at approximately $1,904,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XXEC Inc. purchased a new position in shares of Chubb during the 2nd quarter worth $228,226,000. Berkshire Hathaway Inc grew its holdings in shares of Chubb by 9.3% in the fourth 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 period. BlackRock Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $9,913,336,000. State Street Corp increased its position in Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Chubb by 25.6% during the fourth 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 purchasing an additional 3,049,987 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and raised their price target for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Morgan Stanley lifted their price target on shares of Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Wells Fargo & Company decreased their price objective on Chubb from $358.00 to $356.00 and set an "equal weight" rating on the stock in a report on Thursday, July 23rd. Finally, Citigroup reiterated a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $361.00.

Chubb Price Performance

Shares of CB opened at $340.34 on Friday. The firm has a 50-day simple moving average of $347.46 and a two-hundred day simple moving average of $333.97. The stock has a market cap of $131.30 billion, a PE ratio of 12.04, a P/E/G ratio of 1.64 and a beta of 0.39. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $6.14 EPS. As a group, analysts forecast that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's payout ratio is presently 14.43%.

Insiders Place Their Bets

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

About Chubb

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.

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