Avidian Wealth Enterprises LLC Increases Stock Position in Chubb Limited $CB

Avidian Wealth Enterprises LLC lifted its position in shares of Chubb Limited (NYSE:CB) by 5.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,733 shares of the financial services provider’s stock after buying an additional 85 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Chubb were worth $502,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. North Capital Inc. purchased a new stake in shares of Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the 1st quarter worth approximately $31,000. 1248 Management LLC purchased a new stake in shares of Chubb during the 1st quarter worth approximately $31,000. WPG Advisers LLC purchased a new stake in shares of Chubb during the 1st quarter worth approximately $33,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Chubb by 391.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In related news, Director Michael Corbat purchased 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent research reports. Bank of America upped their target price on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research note on Monday, October 13th. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday. Morgan Stanley reduced their price target on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Keefe, Bruyette & Woods increased their price target on Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, UBS Group reduced their price target on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Two 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $305.28.

Chubb Stock Up 2.7%

Shares of NYSE CB opened at $276.47 on Thursday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a market cap of $110.23 billion, a P/E ratio of 11.54, a P/E/G ratio of 3.03 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. The stock has a fifty day moving average price of $277.36 and a 200 day moving average price of $280.74.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 13.23% and a net margin of 16.53%.The firm had revenue of $14.87 billion during the quarter, compared to the consensus estimate of $12.95 billion. During the same period in the prior year, the firm earned $5.72 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were issued a $0.97 dividend. 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 is currently 17.12%.

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.