Empirical Asset Management LLC Purchases Shares of 2,978 Chubb Limited $CB

Empirical Asset Management LLC purchased a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,978 shares of the financial services provider’s stock, valued at approximately $863,000.

Several other large investors have also recently added to or reduced their stakes in the company. GQG Partners LLC raised its holdings in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Chubb by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock valued at $840,756,000 after acquiring an additional 30,334 shares in the last quarter. Nuveen LLC acquired a new position in Chubb in the 1st quarter valued at approximately $562,221,000. Finally, AQR Capital Management LLC raised its holdings in Chubb by 19.6% in the 1st quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock valued at $423,826,000 after acquiring an additional 231,404 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CB. The Goldman Sachs Group upped their price target on Chubb from $299.00 to $303.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Evercore ISI increased their target price on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Hsbc Global Res cut Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. UBS Group dropped their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. Finally, Wolfe Research raised Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and an average target price of $305.28.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat purchased 425 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is owned by corporate insiders.

Chubb Trading Down 3.7%

CB stock opened at $268.12 on Friday. The business has a fifty day moving average price of $277.47 and a 200 day moving average price of $281.47. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a market capitalization of $106.90 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 3.13 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the firm posted $5.38 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is currently 17.12%.

Chubb Company 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.