Chubb Limited $CB Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Chubb Limited by 12.6% during the second quarter, owning 14,439 shares worth approximately $4.18 million.
• Chubb's stock has been subject to multiple downgrades by analysts, with target prices being reduced from over $300 to as low as $267 by firms like Barclays and Wells Fargo.
• The company recently declared a quarterly dividend of $0.97 per share, reflecting a 1.4% dividend yield, to be paid out on October 3rd.

Thurston Springer Miller Herd & Titak Inc. raised its holdings in Chubb Limited (NYSE:CB - Free Report) by 12.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,439 shares of the financial services provider's stock after buying an additional 1,618 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Chubb were worth $4,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CB. Brighton Jones LLC raised its stake in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Chubb during the fourth quarter worth about $205,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Chubb during the fourth quarter worth about $1,320,000. Raiffeisen Bank International AG acquired a new stake in shares of Chubb during the fourth quarter worth about $1,417,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Chubb by 981.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 26,360 shares of the financial services provider's stock worth $7,283,000 after purchasing an additional 23,923 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of Chubb stock traded down $0.13 during trading on Friday, hitting $274.16. 995,603 shares of the company were exchanged, compared to its average volume of 1,796,990. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a market capitalization of $109.30 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 3.07 and a beta of 0.56. The firm has a 50 day moving average price of $273.84 and a 200 day moving average price of $283.08.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the firm posted $5.38 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a $0.97 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is 17.12%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley cut their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Citigroup assumed coverage on Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target on the stock. HSBC lowered Chubb from a "buy" rating to a "hold" rating and lowered their price target for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Finally, UBS Group lowered their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $303.06.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.77% of the company's stock.

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.