Cullen Frost Bankers Inc. Decreases Stake in Chubb Limited (NYSE:CB)

Cullen Frost Bankers Inc. decreased its position in Chubb Limited (NYSE:CB) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,377 shares of the financial services provider’s stock after selling 3,479 shares during the period. Cullen Frost Bankers Inc.’s holdings in Chubb were worth $21,268,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ING Groep NV grew its position in shares of Chubb by 175,378.1% during the 4th quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock valued at $25,381,000 after acquiring an additional 112,242 shares during the period. ORG Partners LLC bought a new position in shares of Chubb during the 2nd quarter valued at approximately $963,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chubb by 16.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after acquiring an additional 10,745 shares during the period. Edgestream Partners L.P. bought a new position in shares of Chubb during the 1st quarter valued at approximately $984,000. Finally, Sierra Summit Advisors LLC bought a new position in Chubb in the 4th quarter worth approximately $844,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.1 %

NYSE:CB traded up $0.17 during trading hours on Friday, reaching $287.50. The company’s stock had a trading volume of 1,722,890 shares, compared to its average volume of 1,613,882. The firm has a market capitalization of $116.74 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 5.59 and a beta of 0.66. The firm has a 50-day simple moving average of $268.91 and a 200-day simple moving average of $260.69. Chubb Limited has a 1 year low of $202.55 and a 1 year high of $293.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.92 EPS. Research analysts expect that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Insider Activity

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares of the company’s stock, valued at $29,676,685.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,981 shares of company stock valued at $9,504,054. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America raised their price objective on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley cut their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chubb currently has a consensus rating of “Hold” and an average price target of $274.70.

Chubb Company Profile

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.