Connors Investor Services Inc. Has $18.69 Million Stock Holdings in Chubb Limited $CB

Connors Investor Services Inc. decreased its holdings in Chubb Limited (NYSE:CB) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,506 shares of the financial services provider’s stock after selling 73 shares during the quarter. Chubb accounts for approximately 1.7% of Connors Investor Services Inc.’s holdings, making the stock its 17th biggest holding. Connors Investor Services Inc.’s holdings in Chubb were worth $18,689,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CB. Brighton Jones LLC grew its holdings in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Chubb during the fourth quarter worth about $205,000. GAMMA Investing LLC grew its stake in Chubb by 22.3% during the first quarter. GAMMA Investing LLC now owns 6,901 shares of the financial services provider’s stock worth $2,084,000 after buying an additional 1,258 shares during the last quarter. Continuum Advisory LLC grew its stake in Chubb by 59.4% during the first quarter. Continuum Advisory LLC now owns 161 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the last quarter. Finally, Legacy Advisors LLC grew its stake in Chubb by 16.5% during the first quarter. Legacy Advisors LLC now owns 1,413 shares of the financial services provider’s stock worth $428,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CB shares. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Wells Fargo & Company increased their price objective on shares of Chubb from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a report on Wednesday, August 13th. Finally, Jefferies Financial Group increased their price objective on shares of Chubb from $295.00 to $297.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and a consensus price target of $305.28.

Chubb Stock Up 2.7%

Shares of NYSE CB opened at $276.47 on Thursday. The firm has a market capitalization of $110.23 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 3.03 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm’s 50-day moving average is $277.36 and its 200-day moving average is $280.74.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. The company had revenue of $14.87 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 13.23%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.72 EPS. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is currently 17.12%.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.77% of the stock is owned by corporate insiders.

Chubb Company 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.