Tompkins Financial Corp Trims Position in Chubb Ltd (NYSE:CB)
Tompkins Financial Corp trimmed its holdings in Chubb Ltd (NYSE:CB) by 2.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,810 shares of the financial services provider’s stock after selling 70 shares during the period. Tompkins Financial Corp’s holdings in Chubb were worth $414,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CB. Deutsche Bank AG grew its position in Chubb by 28.5% during the fourth quarter. Deutsche Bank AG now owns 1,006,879 shares of the financial services provider’s stock worth $130,059,000 after buying an additional 223,100 shares during the period. JPMorgan Chase & Co. grew its position in Chubb by 3.4% during the first quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock worth $869,256,000 after buying an additional 203,528 shares during the period. Strategic Advisors LLC grew its position in Chubb by 47.7% during the first quarter. Strategic Advisors LLC now owns 2,936 shares of the financial services provider’s stock worth $411,000 after buying an additional 948 shares during the period. Connable Office Inc. acquired a new position in Chubb during the first quarter worth about $1,192,000. Finally, Contravisory Investment Management Inc. acquired a new position in Chubb during the second quarter worth about $66,000. 88.97% of the stock is owned by institutional investors and hedge funds.
In other Chubb news, insider Paul J. Krump sold 3,450 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $145.00, for a total transaction of $500,250.00. Following the transaction, the insider now owns 139,160 shares of the company’s stock, valued at $20,178,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 215,648 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the transaction, the chief executive officer now directly owns 1,002,730 shares in the company, valued at approximately $149,246,333.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 342,146 shares of company stock worth $50,781,622. 0.47% of the stock is currently owned by insiders.
Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.02. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.65 billion. Chubb had a net margin of 11.00% and a return on equity of 8.53%. Chubb’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 earnings per share. On average, sell-side analysts expect that Chubb Ltd will post 10.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 21st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.96%. This is an increase from Chubb’s previous quarterly dividend of $0.73. Chubb’s dividend payout ratio (DPR) is currently 31.78%.
CB has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Atlantic Securities lowered shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 target price on the stock. in a research report on Thursday, June 20th. JMP Securities upped their target price on shares of Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday. Sandler O’Neill upgraded shares of Independent Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Compass Point lowered shares of Chubb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $150.45.
Chubb Company Profile
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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