Busey Bank Increases Stock Position in Chubb Limited (NYSE:CB)

Busey Bank lifted its holdings in shares of Chubb Limited (NYSE:CB) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 900 shares of the financial services provider’s stock after acquiring an additional 91 shares during the quarter. Busey Bank’s holdings in Chubb were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors lifted its holdings in shares of Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Capital Research Global Investors lifted its holdings in Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Chubb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc lifted its holdings in Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after buying an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $287.99 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $286.86 and a 200-day simple moving average of $269.08. The company has a market cap of $116.94 billion, a PE ratio of 12.78, a P/E/G ratio of 5.87 and a beta of 0.66. Chubb Limited has a 12-month low of $207.46 and a 12-month high of $302.05.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the firm posted $4.92 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts forecast that Chubb Limited will post 21.32 EPS for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s payout ratio is 16.16%.

Insider Buying and Selling

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CB shares. JMP Securities reiterated a “market outperform” rating and issued a $300.00 price objective on shares of Chubb in a report on Tuesday, October 15th. Morgan Stanley lowered their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays started coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Roth Mkm boosted their price objective on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $282.37.

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.