Trust Co. of Virginia VA Takes Position in Chubb Ltd (CB)

Trust Co. of Virginia VA acquired a new stake in Chubb Ltd (NYSE:CB) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,535 shares of the financial services provider’s stock, valued at approximately $205,000.

Other hedge funds also recently added to or reduced their stakes in the company. ELM Advisors LLC bought a new stake in shares of Chubb in the 3rd quarter valued at approximately $103,000. Atlantic Trust LLC bought a new stake in shares of Chubb in the 2nd quarter valued at approximately $102,000. Legacy Advisors LLC grew its stake in shares of Chubb by 1,612.0% in the 3rd quarter. Legacy Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 806 shares during the period. Destination Wealth Management grew its stake in shares of Chubb by 1,443.8% in the 2nd quarter. Destination Wealth Management now owns 1,127 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,054 shares during the period. Finally, Kaizen Advisory LLC grew its stake in shares of Chubb by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 1,158 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 706 shares during the period. Institutional investors own 85.92% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Deutsche Bank lowered Chubb from a “hold” rating to a “sell” rating and lowered their price objective for the company from $135.00 to $126.00 in a research note on Monday, August 13th. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Citigroup upped their price objective on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Wells Fargo & Co reiterated a “buy” rating on shares of Chubb in a research note on Wednesday, August 8th. Finally, Credit Suisse Group assumed coverage on Chubb in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $158.00.

NYSE CB opened at $131.31 on Friday. The company has a market cap of $61.01 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. Chubb Ltd has a one year low of $120.50 and a one year high of $157.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 EPS for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.02. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. Chubb’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.13) EPS. Analysts forecast that Chubb Ltd will post 9.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 21st will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $2.92 dividend on an annualized basis and a yield of 2.22%. Chubb’s dividend payout ratio (DPR) is presently 36.36%.

Chubb declared that its Board of Directors has approved a share buyback plan on Thursday, November 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In related news, CEO Evan G. Greenberg sold 227,994 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the sale, the chief executive officer now directly owns 1,583,326 shares in the company, valued at approximately $222,124,804.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Alan Boroughs sold 14,971 shares of the 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 sale, the insider now owns 202,794 shares in the company, valued at $28,263,399.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,007 shares of company stock worth $34,077,406. 0.44% of the stock is owned by corporate insiders.

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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.

See Also: Cost of Equity For A Business, Investors

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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