Grove Bank & Trust Boosts Holdings in Chubb Limited $CB

Grove Bank & Trust increased its position in Chubb Limited (NYSE:CB) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,148 shares of the financial services provider’s stock after buying an additional 220 shares during the quarter. Grove Bank & Trust’s holdings in Chubb were worth $1,202,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CB. Peoples Bank KS purchased a new position in Chubb in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter worth about $25,000. North Capital Inc. acquired a new position in shares of Chubb in the first quarter worth about $26,000. IMA Advisory Services Inc. purchased a new position in Chubb in the first quarter valued at about $31,000. Finally, 1248 Management LLC purchased a new position in Chubb in the first quarter valued at about $31,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael Corbat acquired 425 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $321.00 to $298.00 in a research report on Monday, July 7th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and cut their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Hsbc Global Res lowered shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Morgan Stanley dropped their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $303.06.

Chubb Stock Performance

Shares of CB stock opened at $274.36 on Friday. The company has a market cap of $109.38 billion, a P/E ratio of 12.10, a PEG ratio of 3.07 and a beta of 0.56. The business has a 50 day moving average of $273.84 and a two-hundred day moving average of $283.08. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $5.38 EPS. As a group, analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

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

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.