Penobscot Investment Management Company Inc. Raises Position in Chubb Limited $CB

Penobscot Investment Management Company Inc. raised its stake in Chubb Limited (NYSE:CB) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,602 shares of the financial services provider’s stock after buying an additional 45 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Chubb were worth $2,492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CB. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter valued at about $25,000. North Capital Inc. purchased a new stake in Chubb in the 1st quarter valued at about $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the 1st quarter valued at about $31,000. 1248 Management LLC bought a new position in shares of Chubb in the first quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new position in shares of Chubb in the first quarter valued at approximately $33,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In related news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.77% of the stock is owned by insiders.

Chubb Price Performance

Shares of NYSE CB opened at $283.99 on Friday. The stock has a fifty day simple moving average of $274.76 and a two-hundred day simple moving average of $282.25. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The firm has a market cap of $113.22 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the company earned $5.38 earnings per share. Chubb’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CB. Cantor Fitzgerald raised Chubb to a “hold” rating in a report on Wednesday, August 13th. UBS Group reduced their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Chubb in a report on Saturday, September 27th. Wolfe Research raised Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Evercore ISI upped their target price on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.24.

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.