Northcape Wealth Management LLC Makes New Investment in Chubb Limited $CB

Northcape Wealth Management LLC acquired a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,558 shares of the financial services provider’s stock, valued at approximately $4,279,000. Chubb comprises 1.1% of Northcape Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Chubb in the 2nd quarter valued at $9,913,336,000. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth $1,081,190,000. Bank of New York Mellon Corp purchased a new stake in shares of Chubb in the second quarter valued at about $1,042,549,000. Price T Rowe Associates Inc. MD lifted its position in shares of Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Finally, Berkshire Hathaway Inc boosted its holdings in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CB shares. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research note on Wednesday, July 15th. Morgan Stanley increased their price target on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Mizuho raised their target price on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, BMO Capital Markets boosted their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $361.00.

Chubb Trading Down 1.1%

Shares of Chubb stock opened at $341.45 on Thursday. The stock has a market capitalization of $131.73 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.71 and a beta of 0.39. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s 50-day simple moving average is $345.32 and its 200 day simple moving average is $333.02.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.14 earnings per share. As a group, research analysts anticipate that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company’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 completion of the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the 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 transaction, the executive vice president owned 33,749 shares in the company, valued at $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. Insiders own 0.37% of the company’s stock.

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.