Lcnb Corp purchased a new stake in shares of Chubb Ltd (NYSE:CB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,911 shares of the financial services provider’s stock, valued at approximately $243,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kidder Stephen W lifted its holdings in Chubb by 0.7% in the second quarter. Kidder Stephen W now owns 48,951 shares of the financial services provider’s stock valued at $6,219,000 after buying an additional 360 shares during the period. HL Financial Services LLC raised its holdings in Chubb by 16.6% in the second quarter. HL Financial Services LLC now owns 2,635 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 375 shares during the period. Mn Services Vermogensbeheer B.V. raised its holdings in Chubb by 0.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 73,003 shares of the financial services provider’s stock worth $9,985,000 after purchasing an additional 400 shares during the period. Intact Investment Management Inc. raised its holdings in Chubb by 12.1% in the second quarter. Intact Investment Management Inc. now owns 3,700 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 400 shares during the period. Finally, Private Trust Co. NA raised its holdings in Chubb by 6.5% in the second quarter. Private Trust Co. NA now owns 6,689 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 410 shares during the period. 85.80% of the stock is currently owned by institutional investors and hedge funds.
CB has been the topic of several analyst reports. Barclays cut their target price on shares of Chubb from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Credit Suisse Group began coverage on shares of Chubb in a report on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 target price on the stock. Wells Fargo & Co reissued a “buy” rating and set a $169.00 price objective on shares of Chubb in a research report on Tuesday, July 24th. Zacks Investment Research downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Finally, Atlantic Securities raised shares of Chubb from an “underweight” rating to a “neutral” rating in a research report on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $160.09.
Chubb stock opened at $137.28 on Thursday. The firm has a market capitalization of $62.65 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.30 and a beta of 1.03. Chubb Ltd has a 1-year low of $123.96 and a 1-year high of $157.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.
Chubb (NYSE:CB) last released its earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.06. Chubb had a net margin of 11.53% and a return on equity of 7.41%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.30 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. research analysts anticipate that Chubb Ltd will post 10.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 21st will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, September 20th. Chubb’s dividend payout ratio (DPR) is presently 36.36%.
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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