Commerce Bank Takes Position in Chubb Limited $CB

Commerce Bank bought a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel reports. The firm bought 107,590 shares of the financial services provider’s stock, valued at approximately $36,660,000.

A number of other institutional investors have also added to or reduced their stakes in CB. XXEC Inc. bought a new stake in Chubb during the second quarter worth $228,226,000. BlackRock Inc. acquired a new stake in Chubb in the second quarter valued at $9,913,336,000. GQG Partners LLC bought a new position in shares of Chubb in the 2nd quarter valued at about $4,250,113,000. Norges Bank bought a new position in shares of Chubb in the 4th quarter valued at about $1,081,190,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Chubb during the 2nd quarter worth about $1,042,549,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of CB opened at $341.15 on Friday. The company’s 50-day moving average is $345.88 and its 200-day moving average is $333.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $131.62 billion, a PE ratio of 12.07, a PEG ratio of 1.65 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the firm posted $6.14 EPS. Chubb’s revenue was up 3.6% compared to the same quarter last year. Equities analysts forecast that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 14.43%.

Insider Buying and Selling

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CB. Barclays set a $387.00 target price on shares of Chubb in a report on Tuesday, July 7th. The Goldman Sachs Group lifted their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Mizuho boosted their price target on Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their price objective on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $361.00.

Chubb Company 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.