Perigon Wealth Management LLC acquired a new stake in shares of Chubb Limited (NYSE:CB – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,711 shares of the financial services provider’s stock, valued at approximately $4,331,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its position in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares in the last quarter. Frazier Financial Advisors LLC lifted its holdings in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in Chubb in the first quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of Chubb in the fourth quarter worth about $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Chubb during the fourth quarter worth about $32,000. 83.81% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Cantor Fitzgerald boosted their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $360.09.
Chubb Price Performance
NYSE:CB opened at $341.24 on Tuesday. The stock’s 50 day moving average price is $344.69 and its two-hundred day moving average price is $332.47. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The firm has a market capitalization of $131.65 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.70 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $6.14 earnings per share. On average, analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current year.
Chubb Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 14.43%.
Insiders Place Their Bets
In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’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. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by company insiders.
Chubb Profile
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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