First City Capital Management Inc. Has $573,000 Holdings in Chubb Limited (NYSE:CB)

First City Capital Management Inc. decreased its holdings in Chubb Limited (NYSE:CB) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,248 shares of the financial services provider’s stock after selling 70 shares during the quarter. First City Capital Management Inc.’s holdings in Chubb were worth $573,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CB. Gabelli Funds LLC grew its stake in shares of Chubb by 9.9% in the 2nd quarter. Gabelli Funds LLC now owns 10,005 shares of the financial services provider’s stock worth $2,552,000 after acquiring an additional 900 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Chubb by 11,560.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 4,081 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 4,046 shares in the last quarter. ProShare Advisors LLC grew its position in Chubb by 1.0% in the 2nd quarter. ProShare Advisors LLC now owns 789,602 shares of the financial services provider’s stock worth $201,412,000 after purchasing an additional 7,440 shares in the last quarter. Alaethes Wealth LLC lifted its position in shares of Chubb by 2.3% during the 2nd quarter. Alaethes Wealth LLC now owns 7,886 shares of the financial services provider’s stock worth $2,019,000 after buying an additional 178 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in shares of Chubb by 10.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 585,692 shares of the financial services provider’s stock worth $149,398,000 after buying an additional 53,766 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CB shares. Royal Bank of Canada upped their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley reduced 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 report on Wednesday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price 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. Finally, Bank of America raised their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $274.70.

Chubb Stock Performance

NYSE CB opened at $290.66 on Friday. The company’s 50 day simple moving average is $275.87 and its two-hundred day simple moving average is $263.36. The stock has a market capitalization of $118.03 billion, a PE ratio of 12.90, a P/E/G ratio of 5.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $13.04 billion. During the same quarter last year, the company earned $4.92 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts predict that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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 issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Insider Activity

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated 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 sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael G. Atieh sold 261 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by corporate insiders.

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.