Citizens Financial Group Inc. RI Takes Position in Chubb Limited $CB

Citizens Financial Group Inc. RI purchased a new stake in Chubb Limited (NYSE:CB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 46,172 shares of the financial services provider’s stock, valued at approximately $15,760,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CB. BlackRock Inc. acquired a new stake in Chubb in the 2nd quarter valued at about $9,913,336,000. Norges Bank acquired a new position in shares of Chubb during the fourth quarter worth approximately $1,081,190,000. Bank of New York Mellon Corp acquired a new position in shares of Chubb during the second quarter worth approximately $1,042,549,000. Price T Rowe Associates Inc. MD grew its stake in shares of Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. Finally, Berkshire Hathaway Inc grew its stake in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of a number of research reports. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price objective on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Morgan Stanley increased their price objective on Chubb from $330.00 to $340.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Wells Fargo & Company lowered their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group boosted their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $360.09.

Chubb Stock Down 0.7%

Shares of NYSE CB opened at $341.24 on Tuesday. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The firm’s 50-day moving average is $344.69 and its 200-day moving average is $332.47. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $131.65 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $6.14 earnings per share. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts expect that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s payout ratio is currently 14.43%.

Insider Buying and Selling at Chubb

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

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.