Chubb Limited $CB Shares Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC boosted its position in shares of Chubb Limited (NYSE:CB) by 42.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,359 shares of the financial services provider’s stock after buying an additional 3,067 shares during the period. Chubb accounts for about 0.7% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 15th largest holding. Legacy Wealth Asset Management LLC’s holdings in Chubb were worth $2,924,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CB. Norges Bank purchased a new stake in shares of Chubb during the second quarter worth approximately $1,195,137,000. Bank of America Corp DE boosted its stake in Chubb by 11.6% during the 2nd 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 purchasing an additional 513,852 shares during the last quarter. London Co. of Virginia boosted its stake in Chubb by 211.0% during the 2nd quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after purchasing an additional 500,116 shares during the last quarter. Altrinsic Global Advisors LLC grew its holdings in shares of Chubb by 46.9% during 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 buying an additional 444,557 shares in the last quarter. Finally, Troy Asset Management Ltd raised its position in shares of Chubb by 89.1% in the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after buying an additional 373,872 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.2%

CB opened at $310.44 on Monday. The stock has a market capitalization of $122.17 billion, a PE ratio of 12.96, a P/E/G ratio of 3.55 and a beta of 0.51. Chubb Limited has a one year low of $252.16 and a one year high of $313.46. 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 business’s 50 day moving average price is $290.83 and its 200 day moving average price is $282.69.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same quarter last year, the firm earned $5.72 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is presently 16.19%.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the sale, the insider owned 90,600 shares of the company’s stock, valued at approximately $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,333 shares of company stock valued at $16,629,873 over the last 90 days. 0.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating and set a $283.00 price target on shares of Chubb in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Keefe, Bruyette & Woods increased their price target on Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, Bank of America lifted their price objective on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $311.90.

Chubb 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.