Cullen Frost Bankers Inc. Boosts Stock Holdings in Chubb Limited $CB

Cullen Frost Bankers Inc. boosted its position in shares of Chubb Limited (NYSE:CB) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 82,576 shares of the financial services provider’s stock after buying an additional 332 shares during the period. Cullen Frost Bankers Inc.’s holdings in Chubb were worth $23,924,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CB. North Capital Inc. purchased a new stake in Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb during the 1st quarter worth approximately $31,000. 1248 Management LLC purchased a new stake in Chubb during the 1st quarter worth approximately $31,000. WPG Advisers LLC purchased a new stake in shares of Chubb in the first quarter valued at approximately $33,000. Finally, Maseco LLP purchased a new stake in shares of Chubb in the second quarter valued at approximately $35,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Trading Up 0.4%

CB opened at $269.37 on Wednesday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The stock has a market capitalization of $107.40 billion, a PE ratio of 11.88, a P/E/G ratio of 3.02 and a beta of 0.54. The business’s 50 day moving average price is $277.33 and its 200 day moving average price is $280.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the prior year, the firm earned $5.72 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

Insider Buying and Selling

In other news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CB. Morgan Stanley dropped their price target on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Citigroup began coverage on Chubb in a research report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target for the company. Wolfe Research upgraded Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company upped their price target on Chubb from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their price target on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $305.28.

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.