Country Trust Bank Sells 26,821 Shares of Chubb Limited $CB

Country Trust Bank lessened its position in Chubb Limited (NYSE:CB) by 20.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 105,826 shares of the financial services provider’s stock after selling 26,821 shares during the period. Country Trust Bank’s holdings in Chubb were worth $29,869,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Chubb during the 2nd quarter valued at about $1,195,137,000. Bank of America Corp DE increased its holdings in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares in the last quarter. London Co. of Virginia grew its holdings in shares of Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after buying an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC increased its stake in Chubb by 46.9% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after buying an additional 444,557 shares during the last quarter. Finally, Troy Asset Management Ltd increased its position in shares of Chubb by 89.1% in the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after acquiring an additional 373,872 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CB. The Goldman Sachs Group upgraded shares of Chubb from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $309.00 to $351.00 in a research note on Wednesday, January 7th. JPMorgan Chase & Co. boosted their price objective on Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a report on Wednesday, October 22nd. Mizuho set a $317.00 target price on shares of Chubb in a report on Wednesday. Finally, Citigroup increased their target price on Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $319.00.

Chubb Trading Down 0.1%

CB opened at $300.76 on Friday. The company has a fifty day moving average price of $302.95 and a two-hundred day moving average price of $285.84. Chubb Limited has a 1-year low of $263.14 and a 1-year high of $316.94. The company has a market cap of $118.36 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 3.15 and a beta of 0.51. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last announced its quarterly 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. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the prior year, the company earned $5.72 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, December 12th. This represents a $3.88 annualized dividend and a yield of 1.3%. Chubb’s dividend payout ratio is 16.19%.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Alan Boroughs sold 10,580 shares of the company’s stock in a transaction on Monday, November 24th. The shares were 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 owned 12,660 shares in the company, valued at $3,749,512.20. This represents a 45.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. The trade was a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,333 shares of company stock worth $16,629,873. Corporate insiders own 0.77% of the company’s stock.

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.