Crawford Investment Counsel Inc. grew its stake in Chubb Ltd (NYSE:CB) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 291,657 shares of the financial services provider’s stock after buying an additional 2,065 shares during the period. Crawford Investment Counsel Inc. owned approximately 0.06% of Chubb worth $38,977,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Kidder Stephen W lifted its position in shares of Chubb by 0.7% during the 2nd quarter. Kidder Stephen W now owns 48,951 shares of the financial services provider’s stock worth $6,219,000 after purchasing an additional 360 shares during the last quarter. HL Financial Services LLC increased its stake in Chubb by 16.6% during the second quarter. HL Financial Services LLC now owns 2,635 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 375 shares during the period. Carnegie Capital Asset Management LLC increased its stake in Chubb by 1.4% during the second quarter. Carnegie Capital Asset Management LLC now owns 27,622 shares of the financial services provider’s stock valued at $3,683,000 after acquiring an additional 383 shares during the period. Intact Investment Management Inc. increased its stake in Chubb by 12.1% during the second quarter. Intact Investment Management Inc. now owns 3,700 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 400 shares during the period. Finally, Tdam USA Inc. increased its stake in Chubb by 0.8% during the third quarter. Tdam USA Inc. now owns 52,108 shares of the financial services provider’s stock valued at $6,914,000 after acquiring an additional 420 shares during the period. 85.92% of the stock is owned by institutional investors.
Several brokerages recently issued reports on CB. Wells Fargo & Co restated a “buy” rating on shares of Chubb in a research note on Wednesday, August 8th. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Credit Suisse Group began coverage on Chubb in a research note on Tuesday, August 7th. They set a “neutral” rating and a $150.00 price target on the stock. Citigroup boosted their price target on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research lowered Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $158.00.
Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.02. Chubb had a return on equity of 9.71% and a net margin of 15.37%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.63 billion. During the same period in the prior year, the company posted ($0.13) EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Chubb Ltd will post 9.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 21st will be paid a $0.73 dividend. The ex-dividend date is Thursday, December 20th. This represents a $2.92 annualized dividend and a dividend yield of 2.21%. Chubb’s dividend payout ratio is currently 36.36%.
Chubb declared that its Board of Directors has approved a stock repurchase program on Thursday, November 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Timothy Alan Boroughs sold 14,971 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $139.37, for a total value of $2,086,508.27. Following the transaction, the insider now directly owns 202,794 shares of the company’s stock, valued at approximately $28,263,399.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 227,994 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total value of $31,985,278.26. Following the completion of the transaction, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,007 shares of company stock worth $34,077,406. Corporate insiders own 0.44% of the company’s stock.
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Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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