Trust Co. of Vermont Takes Position in Chubb Limited $CB

Key Points

• Trust Co. of Vermont acquired 19,977 Chubb shares worth approximately $6.8 million in the second quarter. Institutional investors collectively own 83.81% of Chubb’s stock.
• Analysts remain mixed, with a consensus rating of “Hold” and an average price target of $360.09, despite several Buy and Outperform ratings.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue increased 3.6% year over year. The company also announced a quarterly dividend of $1.02 per share, equivalent to a 1.2% yield.

Trust Co. of Vermont bought a new stake in Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,977 shares of the financial services provider's stock, valued at approximately $6,807,000.

A number of other hedge funds have also modified their holdings of the business. CBIZ Investment Advisory Services LLC raised its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after buying an additional 49 shares during the period. Frazier Financial Advisors LLC increased its position in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb in the 4th quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $32,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Atlantic Securities set a $301.00 target price on shares of Chubb in a report on Wednesday, July 15th. Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Evercore reiterated an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. Citigroup restated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Two equities research 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. Based on data from MarketBeat.com, Chubb has an average rating of "Hold" and a consensus target price of $360.09.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by corporate insiders.

Chubb Trading Down 0.7%

NYSE:CB opened at $341.24 on Tuesday. The firm has a market cap of $131.65 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. The stock has a fifty day moving average price of $344.69 and a 200 day moving average price of $332.47. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB - Get Free Report) last released its earnings results 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. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. During the same period in the previous year, the firm posted $6.14 EPS. Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

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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