Central Pacific Bank Trust Division Grows Stake in Chubb Limited $CB

Central Pacific Bank Trust Division raised its holdings in shares of Chubb Limited (NYSE:CB) by 869.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,526 shares of the financial services provider’s stock after purchasing an additional 4,956 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Chubb were worth $1,601,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Legato Capital Management LLC boosted its position in shares of Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock valued at $3,080,000 after buying an additional 5,582 shares during the period. Jump Financial LLC boosted its position in shares of Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock valued at $2,470,000 after buying an additional 7,065 shares during the period. Davis Rea LTD. purchased a new position in shares of Chubb during the first quarter valued at approximately $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock valued at $760,853,000 after buying an additional 366,559 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Chubb by 3.3% during the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock valued at $13,070,000 after buying an additional 1,375 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CB. Citigroup initiated coverage on Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Wells Fargo & Company lowered their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. HSBC lowered Chubb from a “buy” rating to a “hold” rating and lowered their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $302.00.

Chubb Stock Down 1.7%

Chubb stock opened at $278.02 on Friday. The business has a fifty day moving average of $274.38 and a two-hundred day moving average of $283.34. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $110.84 billion, a P/E ratio of 12.26, a P/E/G ratio of 3.19 and a beta of 0.56. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91.

Chubb (NYSE:CB) last posted its 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 company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.38 earnings per share. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Chubb Company Profile

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.