Glenview Trust Co Grows Holdings in Chubb Ltd (CB)
Glenview Trust Co boosted its holdings in shares of Chubb Ltd (NYSE:CB) by 522.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 23,392 shares of the financial services provider’s stock after acquiring an additional 19,634 shares during the period. Glenview Trust Co’s holdings in Chubb were worth $3,418,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CB. QS Investors LLC raised its holdings in shares of Chubb by 4.5% in the second quarter. QS Investors LLC now owns 8,423 shares of the financial services provider’s stock valued at $1,225,000 after purchasing an additional 364 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Chubb by 6.0% in the second quarter. Bank of Nova Scotia now owns 11,408 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 650 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of Chubb by 6.2% in the second quarter. Scotia Capital Inc. now owns 5,415 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 318 shares during the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $299,000. Finally, National Asset Management Inc. raised its holdings in shares of Chubb by 4.0% in the second quarter. National Asset Management Inc. now owns 12,198 shares of the financial services provider’s stock valued at $1,775,000 after purchasing an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.
Chubb Ltd (NYSE:CB) opened at $140.39 on Friday. The firm has a market cap of $68,482.03, a PE ratio of 18.39, a P/E/G ratio of 1.37 and a beta of 0.95. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb Ltd has a 1 year low of $130.68 and a 1 year high of $157.50.
Chubb declared that its board has approved a share repurchase plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.84 dividend on an annualized basis and a yield of 2.02%. Chubb’s dividend payout ratio is presently 34.63%.
In other Chubb news, insider Timothy Alan Boroughs sold 18,611 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the completion of the transaction, the insider now owns 201,165 shares in the company, valued at $30,420,171.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 95,761 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the completion of the transaction, the chief executive officer now owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
Several analysts have recently commented on the stock. Bank of America increased their target price on shares of Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Co restated a “buy” rating and set a $169.00 price target on shares of Chubb in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. upgraded shares of Chubb from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 8th. Finally, Citigroup increased their price target on shares of Chubb from $167.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Chubb has an average rating of “Buy” and an average price target of $163.92.
Chubb Company Profile
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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