OLD Point Trust & Financial Services N A Invests $351,000 in Chubb Limited (NYSE:CB)

OLD Point Trust & Financial Services N A acquired a new position in shares of Chubb Limited (NYSE:CBFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,553 shares of the financial services provider’s stock, valued at approximately $351,000.

Several other institutional investors have also modified their holdings of CB. Gabelli Funds LLC raised its stake in Chubb by 36.1% during the 3rd quarter. Gabelli Funds LLC now owns 9,605 shares of the financial services provider’s stock worth $2,000,000 after acquiring an additional 2,550 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Chubb by 5.5% in the third quarter. Van ECK Associates Corp now owns 12,611 shares of the financial services provider’s stock valued at $2,625,000 after buying an additional 660 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Chubb by 5.4% in the third quarter. HighTower Advisors LLC now owns 165,013 shares of the financial services provider’s stock valued at $34,234,000 after buying an additional 8,420 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Chubb in the third quarter valued at about $91,000. Finally, Wade G W & Inc. raised its holdings in shares of Chubb by 129.0% in the third quarter. Wade G W & Inc. now owns 4,172 shares of the financial services provider’s stock valued at $868,000 after buying an additional 2,350 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB stock traded up $3.47 during trading hours on Friday, hitting $267.22. The company’s stock had a trading volume of 1,523,806 shares, compared to its average volume of 1,607,893. The business has a fifty day moving average of $255.30 and a 200-day moving average of $244.80. The stock has a market cap of $108.51 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 4.30 and a beta of 0.66. Chubb Limited has a twelve month low of $183.71 and a twelve month high of $275.41. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CBGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.41 earnings per share. As a group, equities research analysts anticipate that Chubb Limited will post 21.23 EPS for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is 15.27%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Bank of America raised shares of Chubb from an “underperform” rating to a “neutral” rating and upped their target price for the company from $244.00 to $266.00 in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Evercore ISI upped their target price on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley increased their price target on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chubb presently has a consensus rating of “Moderate Buy” and an average price target of $266.70.

Read Our Latest Analysis on CB

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 26,946 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the sale, the executive vice president now owns 95,252 shares in the company, valued at $24,481,669.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 26,946 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the transaction, the executive vice president now directly owns 95,252 shares in the company, valued at approximately $24,481,669.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,065 shares of company stock worth $29,518,703. 0.86% of the stock is owned by insiders.

Chubb Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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