Grandfield & Dodd LLC acquired a new position in shares of Chubb Limited (NYSE:CB – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 143,520 shares of the financial services provider’s stock, valued at approximately $48,903,000. Chubb accounts for approximately 2.6% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 9th biggest position.
Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb during the 4th quarter worth about $205,000. Woodline Partners LP boosted its stake in shares of Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after acquiring an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 175 shares during the period. Finally, Sei Investments Co. grew its position in shares of Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after acquiring an additional 17,155 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Chubb
In other news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate insiders.
Chubb Trading Down 0.7%
Chubb (NYSE:CB – Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $6.14 earnings per share. Research analysts forecast that Chubb Limited will post 27.45 earnings per share for the current fiscal year.
Chubb Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio is currently 14.43%.
Analysts Set New Price Targets
A number of research firms recently weighed in on CB. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. BMO Capital Markets upped their target price on Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods increased their target price on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $360.09.
View Our Latest Report on Chubb
About Chubb
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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