Rockland Trust Co. Has $11.02 Million Stock Holdings in Chubb Limited $CB

Key Points

• Rockland Trust reduced its Chubb stake by 30% in the second quarter, selling 13,889 shares and retaining 32,349 shares valued at approximately $11.02 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding analysts’ $6.77 consensus estimate, while revenue increased 3.6% year over year to $11.97 billion. The company also raised its quarterly dividend from $0.97 to $1.02 per share, producing a 1.2% annualized yield.
• Analyst sentiment remains mixed, with Chubb receiving an average “Hold” rating and a consensus price target of $360.09. The stock recently opened at $350.17 after trading between $265.30 and $365.91 over the past year.

Rockland Trust Co. decreased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 30.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,349 shares of the financial services provider's stock after selling 13,889 shares during the quarter. Rockland Trust Co.'s holdings in Chubb were worth $11,023,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc boosted its position 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 acquiring an additional 2,916,288 shares during the period. 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 acquiring an additional 68,553 shares during the period. 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 acquiring an additional 3,049,987 shares during the period. GQG Partners LLC raised its stake in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock valued at $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Trading Down 1.1%

Shares of Chubb stock opened at $350.17 on Friday. The firm has a market capitalization of $135.10 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.75 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. The company's fifty day moving average price is $341.33 and its two-hundred day moving average price is $330.43. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping 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 company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the firm earned $6.14 EPS. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Chubb Limited will post 27.45 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb's dividend payout ratio (DPR) is currently 14.43%.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred 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 sale, the executive vice president directly owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CB. Bank of America decreased their price target on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 29th. Citigroup reiterated a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. boosted their price target on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chubb has an average rating of "Hold" and an average target price of $360.09.

Chubb Company 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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