Parkside Financial Bank & Trust Grows Stake in Chubb Limited (NYSE:CB)

Parkside Financial Bank & Trust grew its stake in shares of Chubb Limited (NYSE:CB) by 75.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,205 shares of the financial services provider’s stock after acquiring an additional 2,236 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Chubb were worth $1,176,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. ZRC Wealth Management LLC bought a new stake in shares of Chubb in the 4th quarter worth $29,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Chubb during the 4th quarter valued at about $32,000. Naples Money Management LLC purchased a new position in shares of Chubb during the fourth quarter valued at approximately $34,000. Bell Investment Advisors Inc raised its holdings in shares of Chubb by 39.6% during the third quarter. Bell Investment Advisors Inc now owns 208 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Chubb during the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 4.2 %

Shares of NYSE CB traded down $10.48 during mid-day trading on Wednesday, hitting $239.40. 645,481 shares of the company traded hands, compared to its average volume of 1,714,074. The business has a 50 day moving average of $252.64 and a two-hundred day moving average of $235.15. The stock has a market capitalization of $97.19 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.18 and a beta of 0.62. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $260.58. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the company posted $4.41 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.44%. Chubb’s payout ratio is currently 15.76%.

Insider Transactions at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the transaction, the executive vice president now owns 50,486 shares in the company, valued at approximately $12,879,483.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The disclosure for this sale can be found here. Insiders sold a total of 116,043 shares of company stock valued at $29,766,694 over the last quarter. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CB. HSBC restated a “hold” rating and set a $270.00 price objective (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. Morgan Stanley upped their price target on shares of Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $275.00 to $297.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and issued a $282.00 target price on shares of Chubb in a research note on Monday, April 1st. Finally, Evercore ISI increased their price objective on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $266.37.

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.