Janney Montgomery Scott LLC Raises Stock Holdings in Chubb Limited $CB

Key Points

• Janney Montgomery Scott LLC raised its stake in Chubb Limited by 3.8% in Q2, acquiring an additional 11,076 shares, bringing its total holdings to 304,480 shares valued at approximately $88.2 million.
• Chubb has recently been subject to varied analyst ratings, with a consensus rating of "Hold" and a price target of $303.06, amid changes from firms like Evercore and HSBC.
• The company declared a quarterly dividend of $0.97 per share, set to be paid on October 3rd, representing an annualized payout of $3.88 with a yield of 1.4%.

Janney Montgomery Scott LLC increased its position in Chubb Limited (NYSE:CB - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 304,480 shares of the financial services provider's stock after buying an additional 11,076 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Chubb worth $88,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. GQG Partners LLC increased its position in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Demars Financial Group LLC increased its position in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the period. Ameriprise Financial Inc. increased its position in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock valued at $1,418,398,000 after purchasing an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider's stock valued at $840,756,000 after purchasing an additional 30,334 shares during the period. Finally, Nuveen LLC purchased a new position in Chubb during the 1st quarter valued at $562,221,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CB. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. Wolfe Research raised shares of Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and reduced their price objective for the company from $317.00 to $300.00 in a research report on Friday, August 1st. Finally, Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chubb currently has a consensus rating of "Hold" and a consensus target price of $303.06.

Insider Transactions at Chubb

In other news, Director Michael Corbat purchased 425 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by insiders.

Chubb Stock Down 0.5%

NYSE:CB opened at $279.41 on Tuesday. The firm's 50-day moving average price is $273.94 and its 200-day moving average price is $282.44. The company has a market capitalization of $111.40 billion, a PE ratio of 12.33, a P/E/G ratio of 3.17 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91.

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

Chubb Announces Dividend

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

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.

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