Stock Yards Bank & Trust Co. Increases Position in Chubb Limited $CB

Stock Yards Bank & Trust Co. grew its holdings in Chubb Limited (NYSE:CB) by 43.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,222 shares of the financial services provider’s stock after buying an additional 1,288 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Chubb were worth $1,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GQG Partners LLC increased its stake in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares during the period. Nuveen LLC acquired a new position in shares of Chubb during the first quarter worth about $562,221,000. Demars Financial Group LLC increased its stake in shares of Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after acquiring an additional 878,177 shares during the period. SG Americas Securities LLC increased its stake in shares of Chubb by 1,243.9% during the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock worth $205,491,000 after acquiring an additional 629,822 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after acquiring an additional 304,751 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 0.9%

Shares of NYSE CB opened at $283.99 on Friday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a market capitalization of $113.22 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s 50-day moving average is $274.76 and its two-hundred day moving average is $282.15.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $5.38 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CB shares. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Citigroup began coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. UBS Group lowered their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Barclays lowered shares of Chubb from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Finally, Morgan Stanley lowered their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb presently has an average rating of “Hold” and a consensus target price of $303.24.

Insider Activity

In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by company insiders.

Chubb Profile

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.