Camden National Bank increased its holdings in shares of Chubb Ltd (NYSE:CB) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,145 shares of the financial services provider’s stock after acquiring an additional 392 shares during the period. Chubb makes up approximately 2.0% of Camden National Bank’s portfolio, making the stock its 25th biggest holding. Camden National Bank’s holdings in Chubb were worth $8,711,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Comerica Securities Inc. boosted its stake in shares of Chubb by 45.3% during the fourth quarter. Comerica Securities Inc. now owns 7,343 shares of the financial services provider’s stock valued at $953,000 after acquiring an additional 2,290 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Chubb by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,095,870 shares of the financial services provider’s stock valued at $270,734,000 after buying an additional 21,037 shares during the period. Geode Capital Management LLC grew its stake in Chubb by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock valued at $726,121,000 after purchasing an additional 383,344 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Chubb during the 1st quarter valued at approximately $568,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Chubb by 0.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,332 shares of the financial services provider’s stock valued at $14,195,000 after purchasing an additional 340 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Chubb news, insider Paul Bennett Medini sold 2,125 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $153.72, for a total value of $326,655.00. Following the sale, the insider now directly owns 89,534 shares in the company, valued at approximately $13,763,166.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $158.15, for a total transaction of $948,900.00. Following the sale, the insider now owns 168,037 shares in the company, valued at approximately $26,575,051.55. The disclosure for this sale can be found here. Insiders sold a total of 234,773 shares of company stock valued at $35,107,603 over the last ninety days. 0.47% of the stock is currently owned by insiders.
CB has been the topic of several recent research reports. JMP Securities reissued an “outperform” rating on shares of Chubb in a report on Thursday, July 25th. ValuEngine cut Chubb from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group lifted their price target on Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Co boosted their target price on Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $153.00.
CB stock traded down $0.60 during mid-day trading on Friday, hitting $159.50. 210,500 shares of the company were exchanged, compared to its average volume of 1,299,382. The business has a 50 day simple moving average of $155.49 and a 200-day simple moving average of $146.11. The stock has a market capitalization of $72.75 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. Chubb Ltd has a 1-year low of $119.54 and a 1-year high of $162.19. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.
Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.02. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The company had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. Chubb’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that Chubb Ltd will post 10.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 19th. Chubb’s payout ratio is 31.78%.
Chubb Company Profile
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.
Read More: Dividend Reinvestment Plan (DRIP)
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