Bleakley Financial Group LLC Increases Stock Position in Chubb Limited (NYSE:CB)

Bleakley Financial Group LLC lifted its holdings in shares of Chubb Limited (NYSE:CB) by 4.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,819 shares of the financial services provider’s stock after purchasing an additional 397 shares during the period. Bleakley Financial Group LLC’s holdings in Chubb were worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Fisher Asset Management LLC raised its position in Chubb by 7.3% in the fourth quarter. Fisher Asset Management LLC now owns 5,100 shares of the financial services provider’s stock worth $1,153,000 after acquiring an additional 346 shares in the last quarter. RFG Advisory LLC grew its stake in shares of Chubb by 36.4% during the 1st quarter. RFG Advisory LLC now owns 1,423 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 380 shares during the period. &PARTNERS purchased a new position in shares of Chubb in the 1st quarter valued at about $1,267,000. International Assets Investment Management LLC lifted its stake in shares of Chubb by 56.4% in the first quarter. International Assets Investment Management LLC now owns 3,360 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 1,212 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in Chubb by 5.8% during the first quarter. Ballentine Partners LLC now owns 8,608 shares of the financial services provider’s stock worth $2,231,000 after buying an additional 474 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

CB stock opened at $301.66 on Friday. The stock has a market capitalization of $122.49 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52-week low of $205.64 and a 52-week high of $302.05. The stock’s fifty day simple moving average is $284.79 and its 200-day simple moving average is $267.91.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.92 EPS. Equities research analysts expect that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling at Chubb

In related news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock worth $24,874,208 in the last quarter. 0.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Roth Mkm increased their target price on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price objective on shares of Chubb in a research note on Tuesday. Barclays began coverage on Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Piper Sandler raised their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group boosted their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus target price of $282.37.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.