Chubb Ltd (NYSE:CB) Holdings Raised by Toronto Dominion Bank
Toronto Dominion Bank boosted its position in Chubb Ltd (NYSE:CB) by 35.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,405 shares of the financial services provider’s stock after purchasing an additional 112,810 shares during the period. Toronto Dominion Bank owned approximately 0.09% of Chubb worth $63,530,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in CB. Mcmillion Capital Management Inc. purchased a new position in Chubb in the 2nd quarter worth about $27,000. JNBA Financial Advisors boosted its holdings in shares of Chubb by 223.2% in the second quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock worth $27,000 after buying an additional 125 shares during the period. Ascent Wealth Partners LLC purchased a new position in shares of Chubb in the first quarter worth approximately $28,000. Meridian Wealth Management LLC purchased a new position in shares of Chubb in the second quarter worth approximately $28,000. Finally, QCM Cayman Ltd. increased its position in shares of Chubb by 90.5% in the first quarter. QCM Cayman Ltd. now owns 21,359 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 10,148 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CB traded down $0.70 during mid-day trading on Wednesday, reaching $158.62. The company had a trading volume of 60,332 shares, compared to its average volume of 1,324,258. The stock has a fifty day moving average of $155.23 and a two-hundred day moving average of $145.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $72.30 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.54 and a beta of 0.70. Chubb Ltd has a 12-month low of $119.54 and a 12-month high of $162.19.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 19th. Chubb’s dividend payout ratio (DPR) is currently 31.78%.
Several equities research analysts recently commented on CB shares. Barclays set a $185.00 price target on shares of Chubb and gave the company a “buy” rating in a research report on Monday, August 12th. Morgan Stanley lifted their price objective on shares of Chubb from $154.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Compass Point downgraded shares of Chubb from a “buy” rating to a “neutral” rating and cut their target price for the company from $165.00 to $156.00 in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Wells Fargo & Co increased their target price on Chubb from $157.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Finally, Atlantic Securities cut Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a research report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Chubb presently has a consensus rating of “Hold” and a consensus target price of $153.00.
In related news, CEO Evan G. Greenberg sold 215,648 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total value of $32,097,048.32. Following the completion of the sale, the chief executive officer now owns 1,002,730 shares of the company’s stock, valued at approximately $149,246,333.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul J. Krump sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $155.00, for a total value of $775,000.00. Following the completion of the transaction, the insider now owns 118,865 shares in the company, valued at approximately $18,424,075. The disclosure for this sale can be found here. Insiders have sold a total of 234,773 shares of company stock valued at $35,107,603 in the last three months. Company insiders own 0.47% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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