Pittenger & Anderson Inc. Boosts Stake in Chubb Limited $CB

Pittenger & Anderson Inc. increased its stake in shares of Chubb Limited (NYSE:CB) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 59,668 shares of the financial services provider’s stock after purchasing an additional 711 shares during the period. Pittenger & Anderson Inc.’s holdings in Chubb were worth $17,287,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb during the 1st quarter worth approximately $31,000. 1248 Management LLC acquired a new stake in Chubb during the 1st quarter worth approximately $31,000. WPG Advisers LLC acquired a new stake in Chubb during the 1st quarter worth approximately $33,000. Finally, Maseco LLP acquired a new stake in Chubb during the 2nd quarter worth approximately $35,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of CB opened at $268.16 on Tuesday. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm’s fifty day simple moving average is $277.34 and its 200-day simple moving average is $280.85. The firm has a market capitalization of $106.91 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.02 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings data 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 net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the business earned $5.38 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CB shares. Evercore ISI increased their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Morgan Stanley reduced their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Wells Fargo & Company increased their target price on shares of Chubb from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Barclays raised their price objective on shares of Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $305.28.

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.