CIBC Asset Management Inc Acquires 2,387 Shares of Chubb Limited $CB

CIBC Asset Management Inc increased its stake in shares of Chubb Limited (NYSE:CB) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,120 shares of the financial services provider’s stock after acquiring an additional 2,387 shares during the quarter. CIBC Asset Management Inc’s holdings in Chubb were worth $24,020,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its position in Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Chubb in the second quarter valued at about $32,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Chubb in the third quarter valued at about $34,000. Finally, Financial Consulate Inc. bought a new position in Chubb during the third quarter valued at about $37,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Up 0.0%

CB opened at $300.93 on Monday. The firm has a market cap of $118.43 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 3.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50-day simple moving average is $303.93 and its 200-day simple moving average is $286.64. Chubb Limited has a twelve month low of $263.14 and a twelve month high of $316.94.

Chubb Dividend Announcement

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

Insider Activity

In other news, insider John J. Lupica sold 16,375 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the transaction, the insider directly owned 74,225 shares of the company’s stock, valued at $22,004,001.25. The trade was a 18.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 60,593 shares in the company, valued at approximately $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 33,635 shares of company stock worth $9,970,735. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of research reports. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Morgan Stanley set a $350.00 price target on shares of Chubb in a research note on Friday, January 16th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a report on Wednesday, October 22nd. Finally, Mizuho set a $317.00 price objective on shares of Chubb in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.81.

About Chubb

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.