Hilltop National Bank Cuts Stock Position in Chubb Limited (NYSE:CB)

Hilltop National Bank lowered its position in Chubb Limited (NYSE:CB) by 70.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 322 shares of the financial services provider’s stock after selling 765 shares during the period. Hilltop National Bank’s holdings in Chubb were worth $82,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in Chubb during the 1st quarter worth approximately $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb during the 4th quarter worth approximately $29,000. Wellington Shields Capital Management LLC purchased a new stake in Chubb during the 1st quarter worth approximately $29,000. Tennessee Valley Asset Management Partners acquired a new stake in Chubb during the 4th quarter valued at approximately $32,000. Finally, Northwest Financial Advisors acquired a new stake in Chubb during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock traded up $0.51 during trading hours on Wednesday, reaching $265.69. 1,863,046 shares of the company’s stock were exchanged, compared to its average volume of 1,663,260. Chubb Limited has a 1 year low of $198.10 and a 1 year high of $277.91. The company has a market capitalization of $107.89 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 5.21 and a beta of 0.66. The business has a fifty day moving average of $263.03 and a two-hundred day moving average of $255.89. The company has a quick ratio of 0.29, a current ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the prior year, the firm earned $4.92 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.37%. Chubb’s dividend payout ratio is presently 16.16%.

Analysts Set New Price Targets

CB has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Evercore ISI lifted their price objective on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their target price on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Bank of America boosted their target price on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $270.79.

Insider Transactions at Chubb

In other news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Michael G. Atieh sold 716 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the sale, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders sold 12,845 shares of company stock valued at $3,404,515 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

About Chubb

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.