Penobscot Investment Management Company Inc. Makes New Investment in Chubb Limited (NYSE:CB)

Penobscot Investment Management Company Inc. acquired a new position in shares of Chubb Limited (NYSE:CB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,136 shares of the financial services provider’s stock, valued at approximately $2,248,000.

Other large investors have also made changes to their positions in the company. Continuum Advisory LLC raised its position in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Chubb in the 3rd quarter valued at approximately $29,000. Raelipskie Partnership acquired a new position in shares of Chubb in the 3rd quarter worth approximately $29,000. Sierra Ocean LLC acquired a new stake in shares of Chubb in the 4th quarter valued at $29,000. Finally, Crowley Wealth Management Inc. bought a new position in Chubb during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at $8,644,927.28. The trade was a 33.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is owned by insiders.

Chubb Price Performance

Shares of Chubb stock opened at $291.44 on Wednesday. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company has a market capitalization of $116.70 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The business has a 50-day moving average of $277.68 and a two-hundred day moving average of $281.25.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, equities analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio is presently 16.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company cut their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Chubb has a consensus rating of “Hold” and an average price target of $301.00.

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.