Canandaigua National Bank & Trust Co. Has $1.60 Million Stock Holdings in Chubb Limited (NYSE:CB)

Canandaigua National Bank & Trust Co. cut its holdings in Chubb Limited (NYSE:CB) by 9.6% in the third quarter, Holdings Channel.com reports. The fund owned 5,558 shares of the financial services provider’s stock after selling 591 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Chubb were worth $1,603,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares during the period. Capital Research Global Investors raised its stake in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Chubb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB traded up $2.05 during midday trading on Friday, reaching $290.59. 967,956 shares of the stock were exchanged, compared to its average volume of 1,631,693. Chubb Limited has a twelve month low of $205.64 and a twelve month high of $294.18. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The company has a market cap of $118.00 billion, a P/E ratio of 12.90, a PEG ratio of 5.74 and a beta of 0.66. The stock’s 50 day simple moving average is $281.24 and its 200 day simple moving average is $265.76.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter last year, the firm earned $4.92 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts expect that Chubb Limited will post 21.21 earnings per share for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. JMP Securities increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America lowered shares of Chubb from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $264.00 to $275.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $276.79.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by corporate insiders.

About Chubb

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.