1834 Investment Advisors Co. Makes New Investment in Chubb Limited $CB

1834 Investment Advisors Co. bought a new stake in Chubb Limited (NYSE:CB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,753 shares of the financial services provider’s stock, valued at approximately $495,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Chubb in the 2nd quarter worth $1,195,137,000. Bank of America Corp DE grew its holdings in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares during the period. London Co. of Virginia raised its position in Chubb by 211.0% in the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after acquiring an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC raised its position in Chubb by 46.9% in the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after acquiring an additional 444,557 shares in the last quarter. Finally, Troy Asset Management Ltd lifted its holdings in Chubb by 89.1% in the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after acquiring an additional 373,872 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Up 0.0%

Shares of NYSE:CB opened at $300.93 on Monday. The firm has a fifty day moving average of $303.93 and a two-hundred day moving average of $286.64. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $263.14 and a 12-month high of $316.94. The firm has a market capitalization of $118.43 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 3.26 and a beta of 0.51.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CB. Bank of America reduced their target price on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a report on Friday, January 16th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Morgan Stanley set a $350.00 price objective on Chubb in a research note on Friday, January 16th. Cantor Fitzgerald lifted their target price on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Chubb in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and an average price target of $323.81.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 10,580 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $296.17, for a total value of $3,133,478.60. Following the sale, the executive vice president directly owned 12,660 shares of the company’s stock, valued at $3,749,512.20. This trade represents a 45.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,635 shares of company stock worth $9,970,735 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

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.