Penobscot Investment Management Company Inc. Makes New Investment in Chubb Limited (NYSE:CB)

Penobscot Investment Management Company Inc. acquired a new stake in shares of Chubb Limited (NYSE:CB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,136 shares of the financial services provider’s stock, valued at approximately $2,248,000.

Several other hedge funds also recently made changes to their positions in CB. Wambolt & Associates LLC acquired a new position in Chubb in the fourth quarter worth approximately $438,000. Zions Bancorporation N.A. boosted its stake in shares of Chubb by 59.6% during the 4th quarter. Zions Bancorporation N.A. now owns 3,858 shares of the financial services provider’s stock worth $1,066,000 after acquiring an additional 1,441 shares in the last quarter. TIAA Trust National Association grew its holdings in shares of Chubb by 2.9% in the 4th quarter. TIAA Trust National Association now owns 11,046 shares of the financial services provider’s stock worth $3,052,000 after acquiring an additional 315 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Chubb by 36.3% in the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after acquiring an additional 1,178,628 shares during the last quarter. Finally, Princeton Capital Management LLC acquired a new stake in shares of Chubb during the fourth quarter worth $211,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares of the company’s stock, valued at $22,297,652.88. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This trade represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock valued at $18,562,730 over the last three months. 0.86% of the stock is currently owned by insiders.

Chubb Price Performance

CB opened at $291.44 on Wednesday. The company has a market capitalization of $116.70 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a fifty-two week low of $238.85 and a fifty-two week high of $302.05. The business has a 50-day moving average of $277.68 and a 200-day moving average of $281.25.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities research analysts forecast 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, April 4th. Investors of record on Friday, March 14th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s dividend payout ratio is presently 16.02%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Barclays cut their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and a consensus price target of $301.00.

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.