6,370 Chubb Limited $CB Shares Acquired by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co. Wealth Management increased its Chubb stake by 278.2%, buying 6,370 shares in the third quarter to reach 8,660 shares valued at about $2.82 million.
• Chubb reported quarterly earnings of $7.66 per share, beating analysts’ $6.77 estimate, while revenue of $16.20 billion also exceeded expectations.
• Analysts’ consensus rating was Hold, with an average price target of $362.78; company insiders sold 32,985 shares worth about $11.75 million over the past 90 days.

GRIMES & Co WEALTH MANAGEMENT LLC grew its stake in Chubb Limited (NYSE:CB - Free Report) by 278.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,660 shares of the financial services provider's stock after purchasing an additional 6,370 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Chubb were worth $2,817,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new stake in Chubb in the second quarter worth about $25,000. Dunhill Financial LLC bought a new stake in Chubb during the 2nd quarter valued at approximately $25,000. Parvin Asset Management LLC bought a new stake in Chubb during the 2nd quarter valued at approximately $26,000. Highland Investment Advisors LLC purchased a new position in shares of Chubb during the 2nd quarter worth approximately $26,000. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after acquiring an additional 38 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Down 0.6%

Shares of NYSE:CB opened at $366.59 on Wednesday. The stock's fifty day moving average price is $344.31 and its 200-day moving average price is $334.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $140.07 billion, a P/E ratio of 12.61, a PEG ratio of 1.71 and a beta of 0.29. Chubb Limited has a 1 year low of $279.98 and a 1 year high of $370.29.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts' consensus estimates of $6.77 by $0.89. The firm had revenue of $16.20 billion during the quarter, compared to analyst estimates of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same period in the previous year, the business posted $7.49 earnings per share. Sell-side analysts expect that Chubb Limited will post 28.82 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. Chubb's dividend payout ratio is presently 14.28%.

Insiders Place Their Bets

In related news, CEO Evan Greenberg sold 13,889 shares of the business's stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the completion of the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at approximately $99,824,185.48. The trade was a 4.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Boroughs sold 13,596 shares of the firm's stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the sale, the executive vice president owned 5,588 shares in the company, valued at approximately $1,993,630.76. The trade was a 70.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,985 shares of company stock worth $11,748,463. Company insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Chubb from $389.00 to $387.00 and set an "outperform" rating for the company in a research report on Monday, October 12th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $400.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Morgan Stanley increased their price objective on Chubb from $350.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 27th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $371.00 to $374.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $333.00 target price on shares of Chubb in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $362.78.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.