Clear Harbor Asset Management LLC Makes New $2.35 Million Investment in Chubb Limited $CB

Key Points

• Clear Harbor Asset Management acquired 6,892 Chubb shares worth approximately $2.35 million, while institutional investors collectively own 83.81% of the company.
• Analyst sentiment remains mixed: Chubb has an average “Hold” rating and a consensus price target of $361, with recent target increases from Morgan Stanley and Keefe, Bruyette & Woods.
• Chubb reported quarterly EPS of $7.26, exceeding estimates of $6.77, and declared a quarterly dividend of $1.02 per share, representing a 1.2% annualized yield.

Clear Harbor Asset Management LLC acquired a new stake in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,892 shares of the financial services provider's stock, valued at approximately $2,348,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its position in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after acquiring an additional 5,225 shares during the last quarter. National Pension Service raised its position in Chubb by 24.4% in the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider's stock valued at $358,462,000 after purchasing an additional 225,515 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 8,947 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Chubb by 16.8% during the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider's stock valued at $5,424,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Chubb during the fourth quarter valued at about $3,486,000. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

CB has been the subject of several recent research reports. Weiss Ratings raised Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 29th. Morgan Stanley lifted their target price on shares of Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $354.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Finally, HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and lifted their price target for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $361.00.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company's stock.

Chubb Price Performance

Chubb stock opened at $341.15 on Friday. The stock's 50 day moving average is $345.88 and its 200 day moving average is $333.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market cap of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB - Get Free Report) last released its earnings results 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. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the firm posted $6.14 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

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

Chubb Profile

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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