Bank of Nova Scotia Acquires 63,086 Shares of Chubb Limited $CB

Bank of Nova Scotia lifted its holdings in shares of Chubb Limited (NYSE:CB) by 85.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,938 shares of the financial services provider’s stock after purchasing an additional 63,086 shares during the period. Bank of Nova Scotia’s holdings in Chubb were worth $38,651,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CB. Harbor Capital Advisors Inc. increased its holdings in Chubb by 93.6% in the third 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 in the last quarter. Cedar Mountain Advisors LLC boosted its holdings in shares of Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Chubb during the 2nd quarter worth approximately $32,000. Cornerstone Planning Group LLC grew its position in shares of Chubb by 81.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after buying an additional 53 shares during the period. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Chubb in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CB shares. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and set a $340.00 price target on shares of Chubb in a research note on Monday, February 9th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a report on Monday, December 29th. HSBC raised their price objective on Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Chubb from $327.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $340.81.

Chubb Trading Down 0.1%

NYSE:CB opened at $329.24 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The company has a market cap of $128.45 billion, a PE ratio of 12.80, a PEG ratio of 2.06 and a beta of 0.46. The firm has a 50-day moving average of $319.55 and a 200-day moving average of $299.76.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.02 EPS. As a group, equities research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 15.08%.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president directly owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.86% of the stock is owned by 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.