Trust Point Inc. Has $5.44 Million Stock Position in Chubb Limited $CB

Key Points

• Trust Point Inc. increased its Chubb stake by 932.6% in the second quarter, acquiring 14,408 additional shares and ending the period with a position worth approximately $5.44 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding estimates by $0.49, while revenue rose 3.6% year over year. The company also raised its quarterly dividend to $1.02, equivalent to a 1.2% annual yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $360.09. Chubb shares opened at $350.17, below the $365.91 one-year high, while insiders recently sold shares.

Trust Point Inc. raised its stake in Chubb Limited (NYSE:CB - Free Report) by 932.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,953 shares of the financial services provider's stock after buying an additional 14,408 shares during the quarter. Trust Point Inc.'s holdings in Chubb were worth $5,436,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its position in Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after purchasing an additional 31 shares during the period. Phillips Wealth Planners LLC boosted its stake in shares of Chubb by 1.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock worth $521,000 after buying an additional 31 shares during the last quarter. Hoxton Planning & Management LLC grew its holdings in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock worth $233,000 after acquiring an additional 31 shares during the period. Wright Investors Service Inc. raised its position in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock valued at $1,538,000 after acquiring an additional 34 shares in the last quarter. Finally, G&S Capital LLC raised its position in Chubb by 1.5% during the fourth quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider's stock valued at $709,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business's 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 transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the 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 completion of the sale, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent research reports. Evercore reaffirmed an "outperform" rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Wells Fargo & Company dropped their price target on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their target price on shares of Chubb from $340.00 to $370.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Finally, Morgan Stanley lifted their price target on Chubb from $330.00 to $340.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $360.09.

Chubb Stock Down 1.1%

NYSE CB opened at $350.17 on Friday. The business has a fifty day moving average price of $341.33 and a 200 day moving average price of $330.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $135.10 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.75 and a beta of 0.39. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during 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 company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.14 earnings per share. Research analysts anticipate that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio is 14.43%.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source