OLD National Bancorp IN Buys 20,779 Shares of Chubb Limited $CB

OLD National Bancorp IN lifted its stake in Chubb Limited (NYSE:CB) by 299.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,716 shares of the financial services provider’s stock after purchasing an additional 20,779 shares during the period. OLD National Bancorp IN’s holdings in Chubb were worth $7,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CB. Farther Finance Advisors LLC lifted its holdings in Chubb by 66.8% in the third quarter. Farther Finance Advisors LLC now owns 10,071 shares of the financial services provider’s stock worth $2,843,000 after buying an additional 4,035 shares during the period. Parcion Private Wealth LLC grew its holdings in shares of Chubb by 43.8% during the 3rd quarter. Parcion Private Wealth LLC now owns 1,304 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 397 shares during the period. Baxter Bros Inc. raised its position in shares of Chubb by 81.2% in the 3rd quarter. Baxter Bros Inc. now owns 13,880 shares of the financial services provider’s stock worth $3,918,000 after acquiring an additional 6,219 shares in the last quarter. Patton Fund Management Inc. purchased a new position in shares of Chubb in the 3rd quarter valued at approximately $222,000. Finally, Roffman Miller Associates Inc. PA boosted its position in shares of Chubb by 1.1% during the third quarter. Roffman Miller Associates Inc. PA now owns 136,245 shares of the financial services provider’s stock valued at $38,455,000 after purchasing an additional 1,477 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $313.12 on Wednesday. Chubb Limited has a one year low of $252.16 and a one year high of $314.12. The company’s 50-day moving average is $291.97 and its 200 day moving average is $282.96. The company has a market capitalization of $123.23 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 3.55 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. The business had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.72 earnings per share. Sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is 16.19%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CB. Wolfe Research upped their price target on Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Citigroup increased their price target on shares of Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Mizuho initiated coverage on shares of Chubb in a research note on Monday, December 15th. They set a “neutral” rating and a $318.00 price objective on the stock. Finally, Morgan Stanley set a $310.00 target price on shares of Chubb in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $311.90.

Insider Activity at Chubb

In other Chubb news, insider John J. Lupica sold 23,698 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the sale, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. This trade represents a 20.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 10,580 shares of Chubb stock in a transaction on Monday, November 24th. The stock was sold at an average price of $296.17, for a total value of $3,133,478.60. Following the completion of the sale, the executive vice president directly owned 12,660 shares of the company’s stock, valued at approximately $3,749,512.20. The trade was a 45.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 57,333 shares of company stock valued at $16,629,873. 0.86% of the stock is owned by corporate insiders.

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.