Murchinson Ltd. Buys Shares of 3,125 Chubb Limited (NYSE:CB)

Murchinson Ltd. purchased a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,125 shares of the financial services provider’s stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CB. Beacon Capital Management LLC grew its stake in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in shares of Chubb in the 2nd quarter worth approximately $26,000. Wellington Shields Capital Management LLC bought a new position in shares of Chubb during the 1st quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb during the fourth quarter valued at approximately $29,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $292.11 on Tuesday. The firm has a market capitalization of $118.61 billion, a P/E ratio of 12.97, a PEG ratio of 5.59 and a beta of 0.66. The stock has a 50-day simple moving average of $276.51 and a two-hundred day simple moving average of $263.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Limited has a fifty-two week low of $204.15 and a fifty-two week high of $294.18.

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

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.25%. Chubb’s dividend payout ratio is presently 16.16%.

Wall Street Analyst Weigh In

CB has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Bank of America upped their target price on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, JMP Securities lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $274.70.

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.