Heron Bay Capital Management Acquires New Holdings in Chubb Limited $CB

Heron Bay Capital Management bought a new position in shares of Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,545 shares of the financial services provider’s stock, valued at approximately $526,000.

Several other institutional investors and hedge funds also recently modified their holdings of CB. Brighton Jones LLC increased its stake in shares of Chubb by 12.8% during the 4th 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 purchased a new stake in Chubb in the 4th quarter valued at approximately $205,000. Woodline Partners LP lifted its stake in Chubb by 13.0% in 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 during the last quarter. Finally, Sei Investments Co. grew its holdings in Chubb by 9.3% during the 2nd 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.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was 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 in the company, valued at approximately $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. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of a number of analyst reports. Evercore reissued an “outperform” rating and issued a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Atlantic Securities set a $301.00 price objective on Chubb in a research note on Wednesday, July 15th. Cantor Fitzgerald lifted their price objective on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. HSBC cut Chubb from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Finally, The Goldman Sachs Group upped their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $361.00.

Chubb Trading Down 0.5%

Shares of CB opened at $341.15 on Friday. The stock has a fifty day moving average of $345.88 and a two-hundred day moving average of $333.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $131.62 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the company posted $6.14 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts forecast that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio is presently 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.