Clearstead Trust LLC Makes New Investment in Chubb Limited $CB

Clearstead Trust LLC bought a new stake in Chubb Limited (NYSE:CB) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 1,671 shares of the financial services provider’s stock, valued at approximately $569,000.

A number of other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings 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 valued at $102,959,000 after acquiring an additional 5,225 shares in the last quarter. waypoint wealth counsel lifted its holdings in shares of Chubb by 76.4% in the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock valued at $1,285,000 after purchasing an additional 1,784 shares in the last quarter. National Pension Service lifted its holdings in shares of 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 in the last quarter. Harbour Investments Inc. grew its position in shares of Chubb by 884.1% in 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 during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Chubb by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock worth $5,424,000 after purchasing an additional 2,389 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several research reports. Jefferies Financial Group cut their price objective on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Morgan Stanley increased their target price on Chubb from $330.00 to $340.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Wells Fargo & Company dropped their price target on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. BMO Capital Markets boosted their price target on Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Keefe, Bruyette & Woods upped their price objective on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $360.09.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on 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 completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’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 $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Chubb Stock Performance

Shares of CB opened at $343.80 on Friday. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company’s 50 day simple moving average is $344.31 and its 200 day simple moving average is $331.99. The company has a market capitalization of $132.64 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.70 and a beta of 0.39. 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 (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.14 EPS. On average, sell-side analysts predict that Chubb Limited will post 27.45 EPS for the current year.

Chubb Announces Dividend

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

Chubb Company 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.