Putnam FL Investment Management Co. bought a new stake in shares of Chubb Ltd (NYSE:CB) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 57,210 shares of the financial services provider’s stock, valued at approximately $8,426,000.
Other large investors have also bought and sold shares of the company. United Capital Management of KS Inc. grew its holdings in shares of Chubb by 4.1% during the second quarter. United Capital Management of KS Inc. now owns 3,805 shares of the financial services provider’s stock worth $562,000 after buying an additional 150 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Chubb by 15.5% during the second quarter. Ballentine Partners LLC now owns 6,067 shares of the financial services provider’s stock worth $895,000 after buying an additional 816 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new stake in shares of Chubb during the second quarter worth about $27,000. Wetherby Asset Management Inc. grew its holdings in shares of Chubb by 2.2% during the second quarter. Wetherby Asset Management Inc. now owns 8,657 shares of the financial services provider’s stock worth $1,275,000 after buying an additional 190 shares in the last quarter. Finally, First Merchants Corp grew its holdings in shares of Chubb by 0.6% during the second quarter. First Merchants Corp now owns 30,886 shares of the financial services provider’s stock worth $4,549,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 89.02% of the company’s stock.
A number of brokerages have recently commented on CB. Atlantic Securities downgraded shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a report on Thursday, June 20th. Morgan Stanley lifted their price target on shares of Chubb from $153.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. UBS Group lifted their price target on shares of Chubb from $156.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Compass Point downgraded shares of Chubb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $165.00 to $156.00 in a report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, JMP Securities reiterated an “outperform” rating on shares of Chubb in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Chubb has an average rating of “Hold” and a consensus price target of $150.55.
Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.02. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The business had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the company earned $2.68 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts forecast that Chubb Ltd will post 10.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were given a $0.75 dividend. The ex-dividend date was Thursday, June 20th. This is a boost from Chubb’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. Chubb’s dividend payout ratio (DPR) is currently 31.78%.
In other Chubb news, Director Michael G. Atieh sold 2,000 shares of Chubb stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $141.87, for a total transaction of $283,740.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Juan C. Andrade sold 5,000 shares of Chubb stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $145.22, for a total transaction of $726,100.00. Following the transaction, the insider now directly owns 113,479 shares in the company, valued at $16,479,420.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 340,821 shares of company stock worth $50,608,027. 0.47% of the stock is currently owned by corporate insiders.
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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