Granite Bay Wealth Management LLC Acquires Shares of 6,300 Chubb Limited (NYSE:CB)

Granite Bay Wealth Management LLC bought a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,300 shares of the financial services provider’s stock, valued at approximately $1,618,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CB. Bard Financial Services Inc. raised its stake in Chubb by 3.7% during the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after buying an additional 40 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Chubb by 0.5% during the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its holdings in Chubb by 1.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 40 shares during the period. Quotient Wealth Partners LLC boosted its position in Chubb by 4.1% in the second quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 41 shares during the last quarter. Finally, Drive Wealth Management LLC grew its stake in shares of Chubb by 3.6% during the 2nd quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 41 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CB shares. Roth Mkm boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price objective 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. JPMorgan Chase & Co. raised their target price on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Barclays began coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Finally, Bank of America raised their price objective on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $274.70.

Chubb Price Performance

Shares of NYSE:CB opened at $288.39 on Tuesday. The firm has a market cap of $117.10 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 5.74 and a beta of 0.66. The firm has a fifty day moving average price of $279.09 and a 200 day moving average price of $264.94. Chubb Limited has a fifty-two week low of $204.15 and a fifty-two week high of $294.18. 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 (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating 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 business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the prior year, the firm earned $4.92 EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts expect that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,537 shares of the 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 directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’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 value of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. 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. 0.86% of the stock is currently owned by 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.