HighTower Advisors LLC Purchases 41,622 Shares of Chubb Limited $CB

Key Points

• HighTower Advisors increased its Chubb position by 20.3% in the second quarter, purchasing 41,622 additional shares and bringing its holdings to 246,875 shares valued at approximately $84.1 million. Institutional investors own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, beating analyst expectations of $6.77, while revenue rose 3.6% year over year. The company declared a quarterly dividend of $1.02, equivalent to a 1.2% annual yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $361 price target; meanwhile, two insiders sold shares, and Chubb stock recently traded at $341.16.

HighTower Advisors LLC boosted its position in Chubb Limited (NYSE:CB - Free Report) by 20.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 246,875 shares of the financial services provider's stock after purchasing an additional 41,622 shares during the period. HighTower Advisors LLC owned about 0.06% of Chubb worth $84,120,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CB. Cherry Tree Wealth Management LLC raised its holdings in shares of Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after acquiring an additional 31 shares during the period. Phillips Wealth Planners LLC grew its holdings in shares of Chubb by 1.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock valued at $521,000 after purchasing an additional 31 shares during the period. Hoxton Planning & Management LLC grew its holdings in shares of Chubb by 4.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 31 shares during the period. South Plains Financial Inc. increased its position in Chubb by 2.2% during the fourth quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider's stock worth $500,000 after purchasing an additional 34 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in Chubb by 0.8% during the first quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider's stock worth $1,338,000 after purchasing an additional 34 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of CB stock opened at $341.16 on Tuesday. The firm's 50 day moving average price is $348.24 and its 200-day moving average price is $334.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The firm has a market cap of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.63 and a beta of 0.37.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 EPS. As a group, equities research analysts predict that Chubb Limited will post 27.35 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a $1.02 dividend. 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 payout ratio is 14.43%.

Insider Activity at Chubb

In related news, Director Michael Connors sold 5,500 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company's stock, valued at $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction 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. This trade represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods increased their price objective on Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. HSBC cut Chubb from a "buy" rating to a "hold" rating and raised their target price for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Atlantic Securities set a $301.00 target price on Chubb in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $361.00.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

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.