Montecito Bank & Trust Purchases Shares of 2,509 Chubb Limited $CB

Montecito Bank & Trust purchased a new stake in Chubb Limited (NYSE:CB) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,509 shares of the financial services provider’s stock, valued at approximately $708,000.

A number of other hedge funds have also modified their holdings of CB. Rise Advisors LLC lifted its stake in Chubb by 4.6% in the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 37 shares in the last quarter. Sky Investment Group LLC raised its holdings in shares of Chubb by 1.6% in the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider’s stock valued at $694,000 after purchasing an additional 38 shares during the last quarter. Evermay Wealth Management LLC lifted its position in shares of Chubb by 2.3% in the second quarter. Evermay Wealth Management LLC now owns 1,684 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 38 shares in the last quarter. JT Stratford LLC boosted its holdings in Chubb by 3.5% during the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 38 shares during the last quarter. Finally, Jacobsen Capital Management grew its position in Chubb by 5.3% in the second quarter. Jacobsen Capital Management now owns 773 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 39 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

CB opened at $311.01 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $313.46. The business has a 50 day moving average of $290.28 and a 200-day moving average of $282.78. The stock has a market cap of $122.40 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 3.57 and a beta of 0.51.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same quarter in the prior year, the business earned $5.72 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s payout ratio is presently 16.19%.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider owned 90,600 shares in the company, valued at approximately $25,458,600. This represents a 20.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the sale, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 57,333 shares of company stock worth $16,629,873. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CB. Bank of America boosted their price target on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. Barclays upped their target price on Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. UBS Group raised their price target on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Evercore ISI upped their price objective on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $309.00 price objective on shares of Chubb in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $311.90.

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.