Park National Corp OH Cuts Stake in Chubb Limited $CB

Park National Corp OH reduced its holdings in shares of Chubb Limited (NYSE:CB) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,049 shares of the financial services provider’s stock after selling 93 shares during the period. Park National Corp OH’s holdings in Chubb were worth $3,201,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in Chubb during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb during the 1st quarter worth approximately $25,000. North Capital Inc. purchased a new stake in Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new position in Chubb during the 1st quarter worth approximately $31,000. Finally, 1248 Management LLC acquired a new position in Chubb during the 1st quarter worth approximately $31,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CB. Wells Fargo & Company lowered their price target on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Morgan Stanley lowered their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Barclays cut shares of Chubb from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Finally, Evercore ISI set a $312.00 price target on shares of Chubb in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $302.00.

Chubb Trading Down 1.7%

Shares of Chubb stock opened at $278.02 on Friday. The company has a fifty day simple moving average of $274.38 and a 200-day simple moving average of $283.40. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. 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 $110.84 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 3.19 and a beta of 0.56.

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

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid 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 the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Chubb 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.