XXEC Inc. bought a new position in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 80,652 shares of the financial services provider's stock, valued at approximately $26,210,000. Chubb accounts for 0.0% of XXEC Inc.'s portfolio, making the stock its 18th largest position.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in shares of Chubb during the second quarter worth about $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Chubb in the 2nd quarter valued at approximately $26,000. Finally, Frazier Financial Advisors LLC increased its position in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.
Insider Buying and Selling at Chubb
In other Chubb news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the sale, the director owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company's stock.
Chubb Trading Down 1.6%
Shares of Chubb stock opened at $338.19 on Friday. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market cap of $130.47 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.67 and a beta of 0.39. The company has a 50-day moving average of $347.13 and a two-hundred day moving average of $333.92.
Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $6.14 EPS. On average, research analysts anticipate that Chubb Limited will post 27.49 EPS for the current fiscal year.
Chubb Announces Dividend
The company 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 dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's payout ratio is currently 14.43%.
Analyst Upgrades and Downgrades
CB has been the subject of a number of analyst reports. Cantor Fitzgerald increased their target price on Chubb from $318.00 to $337.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Morgan Stanley upped their price objective on Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 29th. Finally, HSBC downgraded Chubb from a "buy" rating to a "hold" rating and raised their target price for the company from $370.00 to $373.00 in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Chubb has an average rating of "Hold" and an average target price of $361.00.
Get Our Latest Stock Analysis on Chubb
About Chubb
(
Free Report)
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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