OLD National Bancorp IN Increases Stock Holdings in Chubb Limited (NYSE:CB)

OLD National Bancorp IN increased its holdings in Chubb Limited (NYSE:CB) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,691 shares of the financial services provider’s stock after acquiring an additional 246 shares during the quarter. OLD National Bancorp IN’s holdings in Chubb were worth $1,286,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CB. Deutsche Bank AG lifted its stake in shares of Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after acquiring an additional 13,059,385 shares in the last quarter. Lazard Asset Management LLC raised its stake in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after buying an additional 495,860 shares in the last quarter. International Assets Investment Management LLC raised its stake in Chubb by 19,454.2% during the fourth quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after buying an additional 482,854 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Chubb by 43.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider’s stock worth $230,531,000 after purchasing an additional 334,970 shares during the period. Finally, Alphinity Investment Management Pty Ltd raised its position in shares of Chubb by 155.8% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after purchasing an additional 324,019 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Trading Down 0.6 %

Shares of NYSE:CB opened at $249.88 on Wednesday. Chubb Limited has a 52-week low of $183.71 and a 52-week high of $260.58. The company has a market capitalization of $101.45 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.17 and a beta of 0.62. The company has a 50-day simple moving average of $252.64 and a 200 day simple moving average of $235.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $8.30 EPS for the quarter, topping the consensus estimate of $5.07 by $3.23. The company had revenue of $13.38 billion for the quarter, compared to analysts’ expectations of $12.88 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. Sell-side analysts forecast that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, March 14th. Chubb’s dividend payout ratio is presently 15.76%.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the transaction, the executive vice president now directly owns 50,486 shares in the company, valued at $12,879,483.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Timothy Alan Boroughs sold 33,150 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the transaction, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,043 shares of company stock valued at $29,766,694. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CB. Keefe, Bruyette & Woods increased their price objective on Chubb from $275.00 to $297.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. BMO Capital Markets increased their target price on Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a report on Monday, February 5th. StockNews.com upgraded Chubb from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Royal Bank of Canada increased their target price on shares of Chubb from $255.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Morgan Stanley raised their price target on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $266.37.

Chubb Company Profile

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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.