Everett Harris & Co. CA Acquires Shares of 2,412 Chubb Limited $CB

Everett Harris & Co. CA bought a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,412 shares of the financial services provider’s stock, valued at approximately $822,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Chubb during the fourth quarter valued at about $1,081,190,000. Price T Rowe Associates Inc. MD raised its position in Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after acquiring an additional 3,049,987 shares during the period. Berkshire Hathaway Inc boosted its stake in Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after acquiring an additional 2,916,288 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Chubb in the fourth quarter valued at about $795,378,000. Finally, GQG Partners LLC grew its position in shares of Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after acquiring an additional 1,647,729 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction 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 sale, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. BMO Capital Markets increased their price objective on Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a report on Friday, April 24th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and raised their target price for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Mizuho boosted their target price on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald upped their price target on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $360.09.

Chubb Stock Performance

NYSE CB opened at $343.80 on Friday. The firm has a market cap of $132.64 billion, a P/E ratio of 12.16, a price-to-earnings-growth 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. The company’s 50 day moving average is $344.31 and its 200-day moving average is $331.99. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91.

Chubb (NYSE:CB) last released its quarterly earnings data 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. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the firm earned $6.14 EPS. Chubb’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts predict that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

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.