Harbour Wealth Management Group Inc. Acquires New Position in Chubb Limited $CB

Harbour Wealth Management Group Inc. acquired a new stake in Chubb Limited (NYSE:CB) during the fourth quarter, HoldingsChannel reports. The fund acquired 2,162 shares of the financial services provider’s stock, valued at approximately $675,000.

Other institutional investors have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its stake 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 purchasing an additional 49 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Chubb during the third quarter worth $31,000. Laurel Wealth Advisors LLC bought a new stake in Chubb in the fourth quarter valued at about $31,000. Ares Financial Consulting LLC bought a new stake in Chubb in the fourth quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC lifted its stake in Chubb by 38.3% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CB. The Goldman Sachs Group reduced their target price on Chubb from $372.00 to $362.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Mizuho cut their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company lifted their price objective on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. BMO Capital Markets upped their target price on shares of Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and an average target price of $349.10.

Chubb Price Performance

Shares of CB opened at $323.88 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day simple moving average of $324.87 and a 200 day simple moving average of $319.94. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The firm has a market capitalization of $125.62 billion, a PE ratio of 11.44, a P/E/G ratio of 1.68 and a beta of 0.41.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion during the quarter. Sell-side analysts predict that Chubb Limited will post 26.8 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $1.02 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, June 12th. Chubb’s payout ratio is currently 14.41%.

Chubb Company 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.