Keybank National Association OH Trims Stake in Chubb Ltd (CB)
Keybank National Association OH trimmed its stake in shares of Chubb Ltd (NYSE:CB) by 4.9% in the first quarter, HoldingsChannel.com reports. The fund owned 58,157 shares of the financial services provider’s stock after selling 2,979 shares during the period. Keybank National Association OH’s holdings in Chubb were worth $8,147,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in shares of Chubb by 12,660.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,509,251 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 6,458,239 shares during the last quarter. Bank of America Corp DE raised its position in shares of Chubb by 29.9% during the 4th quarter. Bank of America Corp DE now owns 13,576,704 shares of the financial services provider’s stock worth $1,753,839,000 after purchasing an additional 3,125,070 shares during the last quarter. Norges Bank acquired a new position in shares of Chubb during the 4th quarter worth approximately $386,675,000. BlackRock Inc. raised its position in shares of Chubb by 2.9% during the 4th quarter. BlackRock Inc. now owns 31,252,910 shares of the financial services provider’s stock worth $4,037,250,000 after purchasing an additional 875,406 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Chubb by 42.6% during the 4th quarter. California Public Employees Retirement System now owns 2,285,170 shares of the financial services provider’s stock worth $295,198,000 after purchasing an additional 682,125 shares during the last quarter. Institutional investors own 88.50% of the company’s stock.
In other Chubb news, insider John J. Lupica sold 17,879 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $134.95, for a total value of $2,412,771.05. Following the completion of the transaction, the insider now directly owns 192,265 shares in the company, valued at approximately $25,946,161.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael G. Atieh sold 2,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $141.87, for a total value of $283,740.00. The disclosure for this sale can be found here. Insiders sold a total of 23,329 shares of company stock valued at $3,196,761 over the last quarter. 0.47% of the stock is currently owned by insiders.
Shares of CB opened at $148.02 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $66.95 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $148.39.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.05. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.55 billion. Chubb had a return on equity of 8.76% and a net margin of 11.55%. During the same period in the previous year, the firm posted $2.34 EPS. On average, analysts forecast that Chubb Ltd will post 10.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This is an increase from Chubb’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 2.03%. Chubb’s payout ratio is 30.93%.
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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.
Further Reading: What are Institutional Investors?
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