Chubb Limited $CB Shares Purchased by JT Stratford LLC

Key Points

• JT Stratford LLC increased its Chubb stake by 269.3% in Q3, buying 3,035 shares to own 4,162 shares worth about $1.175 million.
• Chubb beat expectations with Q earnings of $7.52 EPS vs. $6.33 expected and reported revenue up 8.9% year-over-year, with analysts forecasting 21.52 EPS for the fiscal year.
• The company announced a quarterly dividend of $0.97 (annualized $3.88, ~1.2% yield) payable April 6, while insiders including the EVP and CEO sold shares in early February, trimming their holdings.

JT Stratford LLC grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 269.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,162 shares of the financial services provider's stock after buying an additional 3,035 shares during the quarter. JT Stratford LLC's holdings in Chubb were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Chubb during the 2nd quarter valued at $1,195,137,000. Bank of America Corp DE raised its position in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. London Co. of Virginia lifted its stake in shares of Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider's stock worth $213,559,000 after purchasing an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC boosted its position in shares of Chubb by 46.9% in the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider's stock worth $403,535,000 after buying an additional 444,557 shares during the period. Finally, Troy Asset Management Ltd grew its stake in shares of Chubb by 89.1% in the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider's stock valued at $229,872,000 after buying an additional 373,872 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Down 1.2%

CB opened at $334.17 on Thursday. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $130.38 billion, a PE ratio of 12.99, a P/E/G ratio of 2.15 and a beta of 0.46. The firm's fifty day moving average price is $317.53 and its 200 day moving average price is $297.04.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $6.02 EPS. As a group, research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Chubb's payout ratio is currently 15.08%.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CB. Weiss Ratings reissued a "buy (b+)" rating on shares of Chubb in a research report on Monday, December 29th. Bank of America dropped their price objective on shares of Chubb from $279.00 to $259.00 and set an "underperform" rating on the stock in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chubb from $303.00 to $304.00 and gave the company a "hold" rating in a research note on Monday, November 24th. HSBC lifted their price target on shares of Chubb from $354.00 to $357.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Finally, BMO Capital Markets upped their price objective on shares of Chubb from $283.00 to $326.00 and gave the company a "market perform" rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of "Hold" and a consensus price target of $340.81.

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.

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