Cohen Investment Advisors LLC acquired a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,455 shares of the financial services provider's stock, valued at approximately $3,015,000. Chubb comprises 1.8% of Cohen Investment Advisors LLC's portfolio, making the stock its 24th biggest holding.
Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC bought a new stake in Chubb during the second quarter valued at about $963,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Chubb by 16.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider's stock valued at $19,448,000 after purchasing an additional 10,745 shares during the period. Edgestream Partners L.P. bought a new stake in Chubb during the first quarter valued at about $984,000. Sierra Summit Advisors LLC bought a new stake in Chubb during the fourth quarter valued at about $844,000. Finally, Leuthold Group LLC bought a new stake in Chubb during the first quarter valued at about $3,033,000. Hedge funds and other institutional investors own 83.81% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CB. Morgan Stanley dropped their price objective on 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 upped their price objective on Chubb from $280.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Bank of America downgraded Chubb from a "neutral" rating to an "underperform" rating and upped their price objective for the company from $264.00 to $275.00 in a research report on Friday. JPMorgan Chase & Co. upped 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. Finally, 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 report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of "Hold" and an average target price of $280.22.
Read Our Latest Research Report on Chubb
Chubb Stock Down 4.6 %
NYSE CB traded down $13.41 during midday trading on Monday, hitting $277.18. 2,382,720 shares of the company traded hands, compared to its average volume of 1,635,607. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $112.55 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. The company's 50-day simple moving average is $281.24 and its 200-day simple moving average is $265.87. Chubb Limited has a 52 week low of $205.64 and a 52 week high of $294.18.
Chubb (NYSE:CB - Get Free Report) last announced its earnings results 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. The business had revenue of $13.36 billion for the quarter, compared to analysts' expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.92 EPS. As a group, equities research analysts forecast that Chubb Limited will post 21.21 earnings per share for the current year.
Chubb Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were given a $0.91 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.31%. Chubb's payout ratio is 16.16%.
Insider Transactions at Chubb
In other news, CEO Evan G. Greenberg sold 30,537 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 583,982 shares of the company's stock, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Evan G. Greenberg sold 30,537 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 583,982 shares of the company's stock, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 553,664 shares of the company's stock, valued at $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 in the last quarter. 0.86% of the stock is currently owned by corporate insiders.
About Chubb
(
Free Report)
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.
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