Heritage Wealth Management Inc. Purchases New Stake in Chubb Limited (NYSE:CB)

Heritage Wealth Management Inc. purchased a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,957 shares of the financial services provider’s stock, valued at approximately $3,524,000. Chubb accounts for 1.2% of Heritage Wealth Management Inc.’s holdings, making the stock its 13th biggest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bard Financial Services Inc. raised its stake in Chubb by 3.7% in the first quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares in the last quarter. Parkside Financial Bank & Trust grew 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. grew its position in Chubb by 1.9% during 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 last quarter. Quotient Wealth Partners LLC grew its position in Chubb by 4.1% during the second quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 41 shares during the last quarter. Finally, Drive Wealth Management LLC grew its holdings in shares of Chubb by 3.6% in the second quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the topic of several recent 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. JPMorgan Chase & Co. raised their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Bank of America lifted their price target on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $274.70.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael G. Atieh sold 261 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s 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 sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by insiders.

Chubb Price Performance

CB opened at $292.15 on Wednesday. Chubb Limited has a 12-month low of $204.15 and a 12-month high of $294.18. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $279.68 and its 200-day simple moving average is $265.19. The company has a market capitalization of $118.63 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 5.74 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter last year, the company earned $4.92 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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