Zions Bancorporation N.A. Sells 331 Shares of Chubb Limited (NYSE:CB)

Zions Bancorporation N.A. trimmed its stake in Chubb Limited (NYSE:CB) by 13.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,192 shares of the financial services provider’s stock after selling 331 shares during the period. Zions Bancorporation N.A.’s holdings in Chubb were worth $559,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. ING Groep NV boosted its stake in Chubb by 175,378.1% in the fourth quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock valued at $25,381,000 after acquiring an additional 112,242 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Chubb during the 2nd quarter valued at $963,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after purchasing an additional 10,745 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Chubb during the 1st quarter worth $984,000. Finally, Sierra Summit Advisors LLC acquired a new position in Chubb during the 4th quarter valued at about $844,000. 83.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb 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 sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The disclosure for this sale can be found here. Insiders sold 94,836 shares of company stock worth $27,055,900 over the last three months. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

Shares of NYSE CB opened at $288.87 on Friday. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The company’s fifty day moving average price is $272.40 and its 200 day moving average price is $261.97. The company has a market capitalization of $116.68 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same period in the prior year, the company posted $4.92 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts predict that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays began coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Royal Bank of Canada upped their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Finally, JMP Securities upped their target price on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $274.70.

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.