Glenview Trust Co Purchases Shares of 32,714 Chubb Limited $CB

Glenview Trust Co purchased a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 32,714 shares of the financial services provider’s stock, valued at approximately $11,147,000.

Other large investors also recently made changes to their positions in the company. Dunhill Financial LLC acquired a new position in Chubb in the 2nd quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Chubb in the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC raised its position in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Chubb in the 2nd quarter valued at approximately $26,000. Finally, Frazier Financial Advisors LLC lifted its stake in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 1.6%

Shares of CB stock opened at $338.19 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50-day moving average is $347.13 and its 200-day moving average is $333.92. The stock has a market cap of $130.47 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.67 and a beta of 0.39. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the business posted $6.14 EPS. Chubb’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts predict that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $1.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is currently 14.43%.

Insider Buying and Selling

In other news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CB. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Barclays set a $387.00 price objective on shares of Chubb in a research report on Tuesday, July 7th. Cantor Fitzgerald increased their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company decreased their target price on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $361.00.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.