Bridges Investment Management Inc. Buys New Shares in Chubb Limited (NYSE:CB)

Bridges Investment Management Inc. purchased a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,935 shares of the financial services provider’s stock, valued at approximately $1,259,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC bought a new stake in Chubb in the 2nd quarter worth approximately $963,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after acquiring an additional 10,745 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Chubb in the 1st quarter valued at $984,000. Sierra Summit Advisors LLC bought a new position in shares of Chubb during the 4th quarter valued at $844,000. Finally, Leuthold Group LLC bought a new position in shares of Chubb during the 1st quarter valued at $3,033,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 of the company’s stock, valued at approximately $167,748,829.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. 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 ninety days. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Shares of CB stock opened at $290.71 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. 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. The business’s fifty day moving average is $275.87 and its 200 day moving average is $263.26. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same period last year, the business earned $4.92 EPS. Chubb’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts expect that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders 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 dividend yield of 1.25%. Chubb’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Roth Mkm boosted their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JMP Securities raised their price target on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $274.70.

About Chubb

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.