Abbot Financial Management Inc. Purchases Shares of 4,232 Chubb Limited $CB

Key Points

• Abbot Financial Management acquired 4,232 Chubb shares worth approximately $1.44 million in the second quarter. Institutional investors collectively own 83.81% of Chubb’s stock.
• Analysts raised several price targets, with the average target reaching $360.09; however, the overall consensus rating remains “Hold.”
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02 per share, representing a 1.2% annualized yield.

Abbot Financial Management Inc. bought a new position in Chubb Limited (NYSE:CB - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 4,232 shares of the financial services provider's stock, valued at approximately $1,442,000.

Several other large investors also recently bought and sold shares of the stock. CBIZ Investment Advisory Services LLC grew its holdings in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after buying an additional 49 shares during the last quarter. Frazier Financial Advisors LLC increased its position in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 38 shares during the period. Merkkuri Wealth Advisors LLC purchased a new position in Chubb in the 1st quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new position in Chubb in the 4th quarter worth $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in Chubb during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. The Goldman Sachs Group raised their price objective on Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. UBS Group lifted their target price on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. upped their target price on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Citigroup reiterated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $360.09.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by company insiders.

Chubb Trading Up 0.0%

Shares of NYSE:CB opened at $343.80 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The business has a 50 day moving average of $344.31 and a two-hundred day moving average of $332.19. The company has a market capitalization of $132.64 billion, a PE ratio of 12.16, a PEG ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.14 earnings per share. As a group, analysts forecast that Chubb Limited will post 27.45 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio (DPR) is 14.43%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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.

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