Renasant Bank Acquires 100 Shares of Chubb Limited (NYSE:CB)

Renasant Bank lifted its holdings in shares of Chubb Limited (NYSE:CB) by 11.5% during the fourth quarter, HoldingsChannel reports. The firm owned 970 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Renasant Bank’s holdings in Chubb were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Impax Asset Management Group plc acquired a new position in shares of Chubb in the third quarter valued at approximately $26,336,000. Harbour Investments Inc. lifted its position in Chubb by 3.3% in the 3rd quarter. Harbour Investments Inc. now owns 2,083 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 66 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Chubb by 7.9% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,079 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 153 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in Chubb by 19.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,260 shares of the financial services provider’s stock worth $2,959,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Haverford Trust Co raised its stake in shares of Chubb by 4.6% in the 3rd quarter. Haverford Trust Co now owns 9,613 shares of the financial services provider’s stock valued at $2,772,000 after purchasing an additional 423 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their price objective on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $299.27.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares in the company, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. The trade was a 4.22 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

Chubb Price Performance

NYSE:CB opened at $288.57 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The stock’s 50 day moving average price is $273.14 and its two-hundred day moving average price is $280.69. The firm has a market capitalization of $115.55 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th 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 1.26%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s dividend payout ratio is presently 16.02%.

Chubb 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.