MidFirst Bank Invests $700,000 in Chubb Limited $CB

MidFirst Bank purchased a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,055 shares of the financial services provider’s stock, valued at approximately $700,000.

Other large investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its position in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Frazier Financial Advisors LLC lifted its position in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC bought a new stake in Chubb during the 1st quarter worth about $29,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Chubb during the fourth quarter valued at approximately $31,000. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Shares of CB opened at $341.24 on Tuesday. The stock has a market cap of $131.65 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The stock’s 50-day moving average price is $344.69 and its two-hundred day moving average price 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.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.14 EPS. On average, equities analysts predict that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and raised their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. UBS Group increased their price objective on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Piper Sandler raised their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Barclays set a $387.00 price objective on shares of Chubb in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group lowered their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Two 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $360.09.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the stock in a transaction 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by corporate insiders.

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.