Rockland Trust Co. Has $10.15 Million Stake in Chubb Ltd (CB)

Rockland Trust Co. trimmed its stake in Chubb Ltd (NYSE:CB) by 1.1% in the fourth quarter, Holdings Channel reports. The fund owned 69,434 shares of the financial services provider’s stock after selling 799 shares during the quarter. Chubb comprises approximately 1.3% of Rockland Trust Co.’s portfolio, making the stock its 28th biggest position. Rockland Trust Co.’s holdings in Chubb were worth $10,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. CIBC World Markets Inc. acquired a new position in shares of Chubb in the second quarter worth $394,000. Riverhead Capital Management LLC increased its stake in Chubb by 12.0% in the second quarter. Riverhead Capital Management LLC now owns 8,288 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 891 shares during the last quarter. Stephens Inc. AR increased its stake in Chubb by 1.3% in the second quarter. Stephens Inc. AR now owns 19,015 shares of the financial services provider’s stock valued at $2,764,000 after purchasing an additional 252 shares during the last quarter. Strategic Advisors LLC acquired a new position in Chubb in the second quarter valued at $390,000. Finally, Dorsey Wright & Associates increased its stake in Chubb by 51.7% in the second quarter. Dorsey Wright & Associates now owns 19,839 shares of the financial services provider’s stock valued at $1,335,000 after purchasing an additional 6,764 shares during the last quarter. 88.17% of the stock is owned by institutional investors.

In related news, insider Paul Bennett Medini sold 5,180 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $150.48, for a total value of $779,486.40. Following the completion of the transaction, the insider now owns 91,775 shares of the company’s stock, valued at $13,810,302. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 16,674 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $152.02, for a total value of $2,534,781.48. The disclosure for this sale can be found here. Insiders sold 164,956 shares of company stock valued at $24,417,316 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $153.00 target price on shares of Chubb in a research note on Sunday, October 29th. Zacks Investment Research downgraded Chubb from a “buy” rating to a “sell” rating in a research report on Friday, January 5th. UBS Group lowered their price target on Chubb from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 19th. Credit Suisse Group reissued a “neutral” rating and set a $156.00 price target on shares of Chubb in a research report on Tuesday, December 19th. Finally, Citigroup boosted their price target on Chubb from $167.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $161.33.

Shares of Chubb Ltd (NYSE CB) traded down $0.56 during midday trading on Thursday, hitting $145.29. The stock had a trading volume of 1,541,600 shares, compared to its average volume of 1,933,200. Chubb Ltd has a 52 week low of $127.15 and a 52 week high of $156.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $67,000.00, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.

Chubb (NYSE:CB) last issued its earnings results on Thursday, October 26th. The financial services provider reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.11. Chubb had a negative return on equity of 0.56% and a negative net margin of 0.81%. The company had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter in the prior year, the business earned $2.88 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts expect that Chubb Ltd will post 7.22 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, December 28th. Chubb’s payout ratio is 34.05%.

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Chubb Profile

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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