Independence Bank of Kentucky reduced its holdings in shares of Chubb Limited (NYSE:CB – Free Report) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,431 shares of the financial services provider’s stock after selling 103 shares during the quarter. Independence Bank of Kentucky’s holdings in Chubb were worth $468,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its holdings in Chubb by 102,751.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after purchasing an additional 8,281,754 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Chubb by 17.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock worth $5,596,629,000 after purchasing an additional 4,210,564 shares during the last quarter. Norges Bank acquired a new stake in Chubb during the 4th quarter worth approximately $619,661,000. Ontario Teachers Pension Plan Board lifted its holdings in Chubb by 28,222.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,619,273 shares of the financial services provider’s stock worth $577,812,000 after purchasing an additional 2,610,025 shares during the last quarter. Finally, FMR LLC lifted its holdings in Chubb by 21.8% during the 1st quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock worth $2,739,488,000 after purchasing an additional 2,528,499 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Theodore Shasta sold 699 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $201.94, for a total transaction of $141,156.06. Following the sale, the director now owns 14,511 shares in the company, valued at approximately $2,930,351.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chubb news, Director Theodore Shasta sold 699 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $201.94, for a total value of $141,156.06. Following the sale, the director now owns 14,511 shares in the company, valued at approximately $2,930,351.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 8,398 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $211.74, for a total value of $1,778,192.52. Following the completion of the sale, the insider now owns 154,049 shares in the company, valued at approximately $32,618,335.26. The disclosure for this sale can be found here. Insiders have sold 22,534 shares of company stock worth $4,645,275 in the last 90 days. Insiders own 0.37% of the company’s stock.
Wall Street Analyst Weigh In
Chubb Price Performance
Chubb stock opened at $211.98 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 0.34. Chubb Limited has a 52 week low of $173.78 and a 52 week high of $231.37. The stock has a market capitalization of $87.07 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.65. The stock has a fifty day moving average of $200.15 and a 200-day moving average of $197.43.
Chubb (NYSE:CB – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share for the quarter, topping analysts’ consensus estimates of $4.41 by $0.51. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $11.24 billion. Chubb had a return on equity of 13.56% and a net margin of 12.47%. Chubb’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.20 EPS. On average, sell-side analysts expect that Chubb Limited will post 18.18 earnings per share for the current fiscal year.
Chubb announced that its board has approved a share repurchase plan on Monday, June 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Chubb Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a dividend of $0.86 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.62%. Chubb’s dividend payout ratio is currently 24.71%.
Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial 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.
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