Bull Harbor Capital LLC Makes New Investment in Chubb Limited $CB

Bull Harbor Capital LLC acquired a new position in Chubb Limited (NYSE:CB) in the first quarter, HoldingsChannel reports. The institutional investor acquired 8,092 shares of the financial services provider’s stock, valued at approximately $2,637,000. Chubb accounts for approximately 0.7% of Bull Harbor Capital LLC’s investment portfolio, making the stock its 20th biggest position.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Chubb in the 4th quarter worth approximately $205,000. Woodline Partners LP grew its holdings in Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after buying an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in 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 buying an additional 175 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after buying an additional 17,155 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CB shares. Cantor Fitzgerald boosted their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Atlantic Securities set a $301.00 price target on shares of Chubb in a research note on Wednesday, July 15th. The Goldman Sachs Group increased their price objective on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Bank of America cut their price objective on Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and a consensus price target of $360.09.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the company’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 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 represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Chubb Trading Down 0.4%

Shares of CB opened at $362.05 on Thursday. The company’s fifty day moving average is $337.47 and its 200 day moving average is $328.27. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.91. The stock has a market capitalization of $140.42 billion, a PE ratio of 12.81, a P/E/G ratio of 1.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.36.

Chubb (NYSE:CB) 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. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the business earned $6.14 earnings per share. Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 27.4 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is 14.43%.

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.