First Merchants Corp Sells 1,649 Shares of Chubb Limited $CB

First Merchants Corp cut its holdings in shares of Chubb Limited (NYSE:CB) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,127 shares of the financial services provider’s stock after selling 1,649 shares during the quarter. First Merchants Corp’s holdings in Chubb were worth $12,784,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the first quarter worth approximately $25,000. North Capital Inc. bought a new position in shares of Chubb during the first quarter worth approximately $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb during the first quarter worth approximately $31,000. 1248 Management LLC bought a new position in shares of Chubb during the first quarter worth approximately $31,000. Finally, WPG Advisers LLC bought a new position in shares of Chubb during the first quarter worth approximately $33,000. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CB shares. Wolfe Research raised shares of Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a research report on Monday. Morgan Stanley reduced their price target 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. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and reduced their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Finally, Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $304.33.

Chubb Stock Performance

Shares of Chubb stock opened at $287.17 on Thursday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. 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 has a market capitalization of $114.49 billion, a P/E ratio of 12.67, a P/E/G ratio of 3.26 and a beta of 0.54. The company’s 50 day moving average price is $276.00 and its two-hundred day moving average price is $282.12.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $5.38 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insiders Place Their Bets

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