Capital Investment Advisors LLC grew its holdings in shares of Chubb Limited (NYSE:CB – Get Rating) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,550 shares of the financial services provider’s stock after acquiring an additional 125 shares during the quarter. Capital Investment Advisors LLC’s holdings in Chubb were worth $305,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CB. Norges Bank bought a new position in shares of Chubb in the fourth quarter worth approximately $581,220,000. 1832 Asset Management L.P. grew its holdings in Chubb by 15,339.4% in the 1st quarter. 1832 Asset Management L.P. now owns 2,431,549 shares of the financial services provider’s stock worth $512,968,000 after acquiring an additional 2,415,800 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Chubb by 21,092.5% in the first quarter. Aaron Wealth Advisors LLC now owns 2,249,158 shares of the financial services provider’s stock valued at $10,515,000 after acquiring an additional 2,238,545 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Chubb during the first quarter valued at about $335,682,000. Finally, Invesco Ltd. boosted its holdings in shares of Chubb by 33.9% during the first quarter. Invesco Ltd. now owns 2,277,045 shares of the financial services provider’s stock worth $487,060,000 after purchasing an additional 576,272 shares during the period. 87.97% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CB. Citigroup assumed coverage on Chubb in a report on Monday, May 23rd. They set a “neutral” rating and a $209.00 price target on the stock. Morgan Stanley decreased their target price on Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Wells Fargo & Company lifted their price target on shares of Chubb from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Finally, Jefferies Financial Group decreased their price objective on shares of Chubb from $247.00 to $244.00 and set a “buy” rating for the company in a report on Tuesday, July 12th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.83.
Chubb Trading Down 1.5 %
Chubb (NYSE:CB – Get Rating) last released its earnings results on Tuesday, July 26th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.61. The firm had revenue of $10.51 billion during the quarter, compared to analyst estimates of $10.52 billion. Chubb had a net margin of 17.36% and a return on equity of 10.97%. During the same period last year, the business earned $3.62 earnings per share. As a group, analysts forecast that Chubb Limited will post 15.75 EPS for the current fiscal year.
Chubb Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 16th will be paid a $0.83 dividend. The ex-dividend date is Thursday, September 15th. This represents a $3.32 annualized dividend and a dividend yield of 1.75%. Chubb’s dividend payout ratio is presently 20.02%.
In related news, CEO Evan G. Greenberg sold 25,792 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $193.86, for a total value of $5,000,037.12. Following the transaction, the chief executive officer now directly owns 594,671 shares of the company’s stock, valued at approximately $115,282,920.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Chubb Company Profile
Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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