OLD National Bancorp IN Buys 333 Shares of Chubb Limited (NYSE:CB)

Posted by Defense World Staff on Apr 24th, 2023

OLD National Bancorp IN boosted its stake in Chubb Limited (NYSE:CB – Get Rating) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,380 shares of the financial services provider’s stock after purchasing an additional 333 shares during the period. OLD National Bancorp IN’s holdings in Chubb were worth $1,628,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Securian Asset Management Inc. raised its stake in shares of Chubb by 1.7% during the fourth quarter. Securian Asset Management Inc. now owns 34,635 shares of the financial services provider’s stock valued at $7,640,000 after acquiring an additional 589 shares during the last quarter. Spire Wealth Management raised its stake in shares of Chubb by 21.1% during the fourth quarter. Spire Wealth Management now owns 1,755 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 306 shares during the last quarter. Clifford Swan Investment Counsel LLC acquired a new stake in shares of Chubb during the fourth quarter worth $209,000. Mach 1 Financial Group LLC increased its position in shares of Chubb by 42,120.0% during the fourth quarter. Mach 1 Financial Group LLC now owns 8,444 shares of the financial services provider’s stock worth $1,863,000 after buying an additional 8,424 shares during the period. Finally, Simplicity Solutions LLC increased its position in shares of Chubb by 14.3% during the fourth quarter. Simplicity Solutions LLC now owns 3,407 shares of the financial services provider’s stock worth $752,000 after buying an additional 427 shares during the period. Institutional investors own 87.12% of the company’s stock.

Chubb Trading Down 1.4 %

NYSE:CB opened at $201.19 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a 50-day moving average of $200.26 and a 200-day moving average of $208.72. The company has a market cap of $83.32 billion, a PE ratio of 16.07, a PEG ratio of 1.17 and a beta of 0.64. Chubb Limited has a one year low of $173.78 and a one year high of $231.37.

Chubb (NYSE:CB – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $4.05 earnings per share for the quarter, missing the consensus estimate of $4.22 by ($0.17). Chubb had a return on equity of 12.51% and a net margin of 12.35%. The firm had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $11.58 billion. During the same quarter last year, the firm posted $3.81 earnings per share. As a group, equities research analysts expect that Chubb Limited will post 17.44 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 10th. Investors of record on Friday, March 17th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 16th. Chubb’s dividend payout ratio (DPR) is presently 26.52%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Roth Capital reiterated a “buy” rating on shares of Chubb in a research report on Wednesday, February 1st. Jefferies Financial Group decreased their price objective on shares of Chubb from $237.00 to $221.00 and set a “hold” rating for the company in a research report on Monday, April 10th. Atlantic Securities increased their price objective on shares of Chubb from $240.00 to $250.00 in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. raised their price target on shares of Chubb from $239.00 to $241.00 and gave the stock an “overweight” rating in a report on Friday, March 31st. Finally, Citigroup upgraded shares of Chubb from a “neutral” rating to a “buy” rating and set a $229.00 price target for the company in a report on Tuesday, April 18th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.23.

Insider Buying and Selling

In other Chubb news, Director Theodore Shasta sold 1,000 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $189.73, for a total value of $189,730.00. Following the transaction, the director now directly owns 14,488 shares in the company, valued at $2,748,808.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Chubb news, Director Theodore Shasta sold 1,000 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $189.73, for a total value of $189,730.00. Following the transaction, the director now directly owns 14,488 shares in the company, valued at $2,748,808.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 23,871 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the completion of the transaction, the chief operating officer now owns 272,062 shares in the company, valued at $57,726,115.16. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

About Chubb

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Chubb Ltd. operates as a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.