US Bancorp DE Sells 11,944 Shares of Chubb Limited $CB

Key Points

• US Bancorp DE reduced its holdings in Chubb Limited by 1.9% during Q2, selling 11,944 shares, and now owns approximately 603,120 shares valued at $174.7 million.
• Analysts have recently increased their target prices for Chubb, with Wells Fargo raising it from $267 to $277, and Citigroup initiating coverage with a buy rating and a target price of $326.
• Chubb announced a quarterly dividend of $0.97 per share, resulting in an annual yield of 1.4%, with a payout ratio of 17.12% as of October 3rd.

US Bancorp DE decreased its holdings in Chubb Limited (NYSE:CB - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 603,120 shares of the financial services provider's stock after selling 11,944 shares during the period. US Bancorp DE owned approximately 0.15% of Chubb worth $174,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Modern Wealth Management LLC grew its position in Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider's stock worth $744,000 after acquiring an additional 143 shares during the last quarter. Jump Financial LLC grew its position in Chubb by 633.6% during the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock worth $2,470,000 after acquiring an additional 7,065 shares during the last quarter. Legato Capital Management LLC grew its position in Chubb by 120.9% during the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock worth $3,080,000 after acquiring an additional 5,582 shares during the last quarter. Davis Rea LTD. bought a new stake in Chubb during the 1st quarter worth $5,117,000. Finally, First Horizon Advisors Inc. grew its position in Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock worth $13,070,000 after acquiring an additional 1,375 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CB shares. Wells Fargo & Company boosted their price objective on Chubb from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on Chubb from $295.00 to $297.00 and gave the stock a "hold" rating in a report on Tuesday. Citigroup initiated coverage on Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Chubb in a report on Wednesday. Finally, Evercore ISI lifted their target price on Chubb from $312.00 to $315.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $304.33.

Chubb Stock Down 0.7%

CB stock opened at $287.17 on Thursday. The stock's 50 day simple moving average is $276.00 and its 200 day simple moving average is $282.12. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $114.49 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 3.26 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $5.38 EPS. On average, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb's payout ratio is currently 17.12%.

Insider Buying and Selling

In related news, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company's stock.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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