Glenview Trust Co Makes New Investment in Chubb Limited $CB

Key Points

• Glenview Trust Co. purchased 32,714 Chubb shares worth approximately $11.1 million in the second quarter. Other institutions also initiated positions, and institutional investors now own 83.81% of the stock.
• Chubb reported quarterly EPS of $7.26, exceeding estimates of $6.77, while revenue rose 3.6% year over year. The company declared a quarterly dividend of $1.02, equivalent to a 1.2% yield.
• Analyst sentiment remains mixed, with Chubb holding an average “Hold” rating and an average price target of $361. Recent insider activity was negative, as two executives sold shares; insiders own just 0.37% of the company.

Glenview Trust Co bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,714 shares of the financial services provider's stock, valued at approximately $11,147,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Empowered Funds LLC bought a new position in shares of Chubb in the second quarter worth about $9,844,000. United Capital Financial Advisors LLC acquired a new position in shares of Chubb during the second quarter valued at $5,959,000. Brooks Moore & Associates Inc. bought a new position in Chubb in the second quarter valued at about $2,736,000. Hamilton Capital LLC acquired a new stake in Chubb in the second quarter worth about $252,000. Finally, Equitable Holdings Inc. acquired a new stake in Chubb in the second quarter worth about $4,139,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction dated 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 approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated 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 in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Chubb Stock Performance

Shares of NYSE:CB opened at $338.19 on Friday. The firm's 50 day simple moving average is $347.13 and its 200 day simple moving average is $333.92. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a market capitalization of $130.47 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 0.39. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Announces Dividend

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

Analyst Upgrades and Downgrades

CB has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Citizens Jmp reiterated a "market outperform" rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. The Goldman Sachs Group boosted their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Citigroup restated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Chubb presently has an average rating of "Hold" and an average target price of $361.00.

Chubb Profile

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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