Watch Point Trust Co Makes New Investment in Chubb Ltd (NYSE:CB)

Watch Point Trust Co purchased a new position in Chubb Ltd (NYSE:CB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,510 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. WCM Investment Management LLC raised its position in shares of Chubb by 100.6% in the 1st quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock valued at $1,966,632,000 after purchasing an additional 7,040,520 shares in the last quarter. FMR LLC raised its position in shares of Chubb by 0.6% in the 1st quarter. FMR LLC now owns 11,889,654 shares of the financial services provider’s stock valued at $1,665,503,000 after purchasing an additional 74,295 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Chubb by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock valued at $869,256,000 after purchasing an additional 203,528 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Chubb by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock valued at $726,121,000 after purchasing an additional 383,344 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Chubb by 1.1% in the 1st quarter. Northern Trust Corp now owns 5,376,229 shares of the financial services provider’s stock valued at $753,101,000 after purchasing an additional 56,907 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

In related news, insider Paul J. Krump sold 6,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $160.00, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 112,865 shares of the company’s stock, valued at approximately $18,058,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John J. Lupica sold 10,400 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $146.37, for a total value of $1,522,248.00. Following the completion of the sale, the insider now directly owns 174,037 shares of the company’s stock, valued at $25,473,795.69. The disclosure for this sale can be found here. Insiders sold a total of 355,821 shares of company stock valued at $53,008,187 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Several research firms recently issued reports on CB. Compass Point lowered Chubb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Wells Fargo & Co upped their price target on Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Barclays set a $185.00 price target on Chubb and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Raymond James reissued a “strong-buy” rating and set a $160.00 price target (up from $150.00) on shares of Chubb in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $153.00.

Chubb stock traded up $0.74 during midday trading on Thursday, reaching $153.43. The stock had a trading volume of 35,349 shares, compared to its average volume of 1,777,081. Chubb Ltd has a 12 month low of $119.54 and a 12 month high of $160.23. The company has a market cap of $69.83 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.51 and a beta of 0.72. The business has a fifty day moving average price of $151.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.32 and a quick ratio of 0.32.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the company posted $2.68 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Chubb Ltd will post 10.4 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 19th. Chubb’s payout ratio is 31.78%.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional 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 in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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