Choreo LLC Raises Stake in Chubb Limited (NYSE:CB)

Choreo LLC lifted its position in Chubb Limited (NYSE:CB – Free Report) by 593.6% during the second quarter, Holdings Channel reports. The firm owned 12,353 shares of the financial services provider’s stock after acquiring an additional 10,572 shares during the period. Choreo LLC’s holdings in Chubb were worth $3,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Chubb in the 4th quarter valued at $957,756,000. Capital Research Global Investors raised its stake in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after buying an additional 2,064,730 shares during the period. Capital World Investors boosted its holdings in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Chubb in the first quarter valued at about $165,932,000. Finally, Bank of Nova Scotia boosted its holdings in Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquired an additional 518,535 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s shares.

The Wall Street analyst weighs in

Several research analysts have weighed in on the company. Roth Mkm lifted their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JMP Securities boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 24th. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley decreased their price objective 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, 10 July. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $274.70.

Get the latest research report on CB

Chubb trading down 0.4%

NYSE:CB opened at $291.03 on Wednesday. Chubb Limited has a 52-week low of $204.15 and a 52-week high of $294.18. The company has a quick ratio of 0.31, a current ratio of 0.31, and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $270.37 and a 200 day simple moving average of $261.33. The company has a market cap of $117.56 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 5.65 and a beta of 0.66.

Chubb (NYSE:CB – Get Your 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, topping analysts’ consensus estimates of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. In the same quarter last year, the business posted earnings per share of $4.92. On average, equities research analysts expect that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In other news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In related news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,836 shares of company stock worth $27,055,900. 0.86% of the stock is owned by insiders.

Chubb profile

(Free Report)

Chubb Limited offers insurance and reinsurance products worldwide. The company’s North American P&C commercial insurance segment offers commercial property, casualty, workers’ compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, warranty and casualty; and group accident and health insurance for large, medium and small commercial businesses.

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