Alaethes Wealth LLC Raises Stock Position in Chubb Limited (NYSE:CB)

Alaethes Wealth LLC raised its holdings in Chubb Limited (NYSE:CB) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,886 shares of the financial services provider’s stock after purchasing an additional 178 shares during the quarter. Alaethes Wealth LLC’s holdings in Chubb were worth $2,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. Capital World Investors increased its stake in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Chubb in the 1st quarter worth about $165,932,000. Bank of Nova Scotia boosted its position in Chubb by 198.8% during the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after purchasing an additional 457,881 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 in the last quarter. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. Morgan Stanley reduced their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $274.70.

Chubb Trading Up 0.0 %

Shares of CB stock opened at $290.71 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The company’s 50-day moving average price is $275.87 and its 200-day moving average price is $263.26. The stock has a market cap of $118.05 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.92 EPS. As a group, equities analysts predict that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio is currently 16.16%.

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.