Country Club Bank Boosts Stock Holdings in Chubb Limited $CB

Country Club Bank grew its position in shares of Chubb Limited (NYSE:CB) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,976 shares of the financial services provider’s stock after buying an additional 91 shares during the period. Country Club Bank’s holdings in Chubb were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter worth $25,000. North Capital Inc. purchased a new stake in Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the 1st quarter worth $31,000. 1248 Management LLC purchased a new stake in Chubb in the 1st quarter worth $31,000. Finally, WPG Advisers LLC purchased a new stake in Chubb in the 1st quarter worth $33,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 1.0%

Shares of CB stock opened at $289.24 on Wednesday. The company’s 50-day moving average price is $275.58 and its 200-day moving average price is $282.08. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $115.32 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 3.23 and a beta of 0.54. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.38 EPS. As a group, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s payout ratio is presently 17.12%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CB shares. Piper Sandler reissued a “neutral” rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a report on Monday. Evercore ISI lifted their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. UBS Group lowered their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Finally, Wells Fargo & Company lowered their target price on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. 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. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $303.72.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The shares were purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.86% of the company’s stock.

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.