NewEdge Advisors LLC raised its position in Chubb Limited (NYSE:CB – Free Report) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 99,590 shares of the financial services provider’s stock after acquiring an additional 2,956 shares during the quarter. NewEdge Advisors LLC’s holdings in Chubb were worth $33,934,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of CB. IMG Wealth Management Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $25,000. Dunhill Financial LLC purchased a new position in Chubb during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its position in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Parvin Asset Management LLC acquired a new stake in Chubb in the second quarter valued at about $26,000. Finally, Highland Investment Advisors LLC purchased a new stake in Chubb in the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on CB shares. The Goldman Sachs Group boosted their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Mizuho lifted their price target on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Morgan Stanley increased their price objective on Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. Finally, HSBC downgraded Chubb from a “buy” rating to a “hold” rating and raised their target price for the company from $370.00 to $373.00 in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $361.00.
Insider Buying and Selling at Chubb
In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Connors sold 5,500 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.
Chubb Trading Up 0.3%
Shares of Chubb stock opened at $337.59 on Thursday. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market cap of $130.24 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.37. The company has a 50-day moving average of $347.88 and a two-hundred day moving average of $334.70.
Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.14 EPS. On average, research analysts anticipate that Chubb Limited will post 27.35 EPS for the current fiscal year.
Chubb Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.
About Chubb
Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.
Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.
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