OLD National Bancorp IN Grows Stock Holdings in Chubb Limited $CB

by · The Cerbat Gem

OLD National Bancorp IN boosted its stake in shares of Chubb Limited (NYSE:CBFree Report) by 299.5% during the third quarter, Holdings Channel reports. The firm owned 27,716 shares of the financial services provider’s stock after purchasing an additional 20,779 shares during the quarter. OLD National Bancorp IN’s holdings in Chubb were worth $7,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CB. Farther Finance Advisors LLC raised its stake in Chubb by 66.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,071 shares of the financial services provider’s stock valued at $2,843,000 after buying an additional 4,035 shares during the last quarter. Parcion Private Wealth LLC grew its holdings in shares of Chubb by 43.8% in the third quarter. Parcion Private Wealth LLC now owns 1,304 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 397 shares during the period. Baxter Bros Inc. increased its position in Chubb by 81.2% during the third quarter. Baxter Bros Inc. now owns 13,880 shares of the financial services provider’s stock valued at $3,918,000 after acquiring an additional 6,219 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in Chubb during the third quarter valued at $222,000. Finally, Roffman Miller Associates Inc. PA lifted its holdings in Chubb by 1.1% in the third quarter. Roffman Miller Associates Inc. PA now owns 136,245 shares of the financial services provider’s stock valued at $38,455,000 after acquiring an additional 1,477 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CB. Bank of America boosted their price target on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research note on Monday, October 13th. Wells Fargo & Company boosted their target price on shares of Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a research report on Monday. Evercore ISI lifted their price target on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $311.90.

Check Out Our Latest Analysis on Chubb

Insider Activity

In other news, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,333 shares of company stock worth $16,629,873 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $313.12 on Wednesday. The company has a market capitalization of $123.23 billion, a P/E ratio of 13.07, a P/E/G ratio of 3.55 and a beta of 0.51. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $314.12. The firm’s 50 day simple moving average is $291.97 and its two-hundred day simple moving average is $282.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb (NYSE:CBGet Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same period last year, the firm earned $5.72 EPS. The company’s revenue was up 7.5% on a year-over-year basis. Research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

About Chubb

(Free Report)

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.

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