Chubb Ltd (CB) Shares Bought by Goodman Financial Corp
Goodman Financial Corp lifted its position in Chubb Ltd (NYSE:CB) by 0.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,168 shares of the financial services provider’s stock after acquiring an additional 79 shares during the quarter. Chubb makes up about 3.4% of Goodman Financial Corp’s holdings, making the stock its 13th biggest holding. Goodman Financial Corp’s holdings in Chubb were worth $6,747,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Trust Co. of Virginia VA purchased a new stake in Chubb in the 1st quarter worth approximately $8,097,000. New York State Common Retirement Fund increased its stake in shares of Chubb by 4.1% during the 1st quarter. New York State Common Retirement Fund now owns 1,272,066 shares of the financial services provider’s stock worth $178,191,000 after purchasing an additional 50,100 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Chubb by 3.3% during the 1st quarter. TD Asset Management Inc. now owns 911,295 shares of the financial services provider’s stock worth $127,654,000 after purchasing an additional 28,839 shares during the last quarter. Forsta AP Fonden increased its stake in shares of Chubb by 4.0% during the 1st quarter. Forsta AP Fonden now owns 38,601 shares of the financial services provider’s stock worth $5,407,000 after purchasing an additional 1,500 shares during the last quarter. Finally, DDD Partners LLC increased its stake in shares of Chubb by 1.4% during the 1st quarter. DDD Partners LLC now owns 76,754 shares of the financial services provider’s stock worth $10,752,000 after purchasing an additional 1,043 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.
In related news, Director Michael G. Atieh sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $141.87, for a total value of $283,740.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul J. Krump sold 3,450 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $145.00, for a total transaction of $500,250.00. Following the completion of the transaction, the insider now owns 139,160 shares in the company, valued at $20,178,200. The disclosure for this sale can be found here. Insiders sold a total of 25,766 shares of company stock worth $3,523,173 over the last quarter. 0.47% of the stock is currently owned by company insiders.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. Chubb had a net margin of 11.55% and a return on equity of 8.76%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.55 billion. During the same period last year, the business posted $2.34 EPS. Equities research analysts forecast that Chubb Ltd will post 10.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 21st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This is a positive change from Chubb’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 2.06%. Chubb’s dividend payout ratio (DPR) is presently 30.93%.
Several brokerages have recently commented on CB. Credit Suisse Group lowered shares of Chubb from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $141.00 to $131.00 in a research note on Wednesday, February 27th. Wells Fargo & Co restated a “buy” rating and set a $157.00 price target on shares of Chubb in a research note on Tuesday, April 30th. Zacks Investment Research lowered shares of Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Raymond James dropped their price target on shares of Chubb from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, February 11th. Finally, Sandler O’Neill lowered shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Chubb has an average rating of “Hold” and a consensus price target of $151.00.
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Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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