MidFirst Bank Takes Position in Chubb Limited $CB

MidFirst Bank acquired a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,055 shares of the financial services provider’s stock, valued at approximately $700,000.

Other large investors have also bought and sold shares of the company. Berkshire Hathaway Inc raised its holdings in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares during the period. BlackRock Inc. bought a new stake in Chubb in the 2nd quarter valued at $9,913,336,000. State Street Corp boosted its stake in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. Finally, GQG Partners LLC increased its holdings in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho lifted their price target on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Jefferies Financial Group decreased their price objective on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Cantor Fitzgerald lifted their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Evercore restated an “outperform” rating and issued a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $360.09.

Insider Buying and Selling

In other news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s 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 sale, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by company insiders.

Chubb Stock Down 0.7%

Shares of CB stock opened at $341.24 on Tuesday. The firm’s fifty day moving average price is $344.69 and its two-hundred day moving average price is $332.47. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The firm has a market capitalization of $131.65 billion, a P/E ratio of 12.07, a PEG ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.14 EPS. On average, equities analysts predict that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Chubb Company Profile

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.