Perigon Wealth Management LLC Buys New Position in Chubb Limited (NYSE:CB)

Perigon Wealth Management LLC bought a new stake in shares of Chubb Limited (NYSE:CB – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,507 shares of the financial services provider’s stock, valued at approximately $274,000.

Several other hedge funds also recently modified their holdings of CB. Centaurus Financial Inc. boosted its position in Chubb by 3.7% in the third quarter. Centaurus Financial Inc. now owns 5,810 shares of the financial services provider’s stock worth $1,057,000 after purchasing an additional 205 shares during the last quarter. American Trust boosted its position in Chubb by 8.9% in the third quarter. American Trust now owns 39,254 shares of the financial services provider’s stock worth $7,139,000 after purchasing an additional 3,215 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Chubb by 33.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,176,123 shares of the financial services provider’s stock worth $213,910,000 after purchasing an additional 293,145 shares during the last quarter. Toroso Investments LLC boosted its position in Chubb by 4.2% in the third quarter. Toroso Investments LLC now owns 11,498 shares of the financial services provider’s stock worth $2,091,000 after purchasing an additional 464 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in Chubb by 28.8% in the third quarter. CVA Family Office LLC now owns 916 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,871 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the completion of the transaction, the chief operating officer now directly owns 272,062 shares in the company, valued at $57,726,115.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.39% of the stock is owned by company insiders.

Chubb Stock Performance

NYSE:CB opened at $186.80 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35. Chubb Limited has a 52-week low of $173.78 and a 52-week high of $231.37. The firm has a market cap of $77.24 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.08 and a beta of 0.66. The business’s fifty day moving average is $213.28 and its 200 day moving average is $207.33.

Chubb (NYSE:CB – Get Rating) last posted its earnings results on Wednesday, February 1st. The financial services provider reported $4.05 EPS for the quarter, missing the consensus estimate of $4.22 by ($0.17). Chubb had a return on equity of 12.51% and a net margin of 12.35%. The business had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $11.58 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. Research analysts predict that Chubb Limited will post 17.4 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Friday, March 17th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, March 16th. Chubb’s payout ratio is 26.52%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CB. Jefferies Financial Group cut Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $241.00 to $246.00 in a research report on Monday, January 9th. Roth Capital restated a “buy” rating on shares of Chubb in a research note on Wednesday, February 1st. Royal Bank of Canada boosted their target price on Chubb from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, December 14th. Morgan Stanley boosted their target price on Chubb from $216.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 22nd. Finally, Barclays lowered their target price on Chubb from $258.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, February 2nd. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $243.92.

About Chubb

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Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.