43,099 Shares in Chubb Limited $CB Acquired by Cibc World Market Inc.

Cibc World Market Inc. acquired a new stake in shares of Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,099 shares of the financial services provider’s stock, valued at approximately $14,686,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its position in Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after acquiring an additional 5,225 shares during the period. National Pension Service raised its stake in shares of Chubb by 24.4% during the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock valued at $358,462,000 after purchasing an additional 225,515 shares in the last quarter. Harbour Investments Inc. increased its stake in Chubb by 884.1% during the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 8,947 shares during the period. Bessemer Group Inc. raised its position in shares of Chubb by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock worth $5,424,000 after buying an additional 2,389 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Chubb in the 4th quarter worth approximately $3,486,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Up 1.4%

Shares of NYSE:CB opened at $345.63 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $133.34 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.65 and a beta of 0.39. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a 50 day moving average price of $346.25 and a 200 day moving average price of $333.69.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the prior year, the company earned $6.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, research analysts anticipate that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio is currently 14.43%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CB shares. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. The Goldman Sachs Group upped their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald lifted their price target on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $361.00.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

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.