Patron Partners LLC Buys Shares of 1,596 Chubb Limited $CB

Patron Partners LLC bought a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,596 shares of the financial services provider’s stock, valued at approximately $544,000.

Other hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in shares of Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of 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 buying an additional 49 shares during the last quarter. Frazier Financial Advisors LLC grew its stake in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC bought a new position in shares of Chubb in the first quarter valued at $29,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CB shares. Morgan Stanley upped their price target on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and upped their target price for the company from $370.00 to $373.00 in a report on Monday, July 6th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. Finally, Barclays set a $387.00 price target on Chubb in a report on Tuesday, July 7th. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $361.00.

Chubb Trading Down 0.5%

Shares of Chubb stock opened at $341.15 on Friday. The business has a fifty day simple moving average of $345.88 and a two-hundred day simple moving average of $333.31. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a market capitalization of $131.62 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the company earned $6.14 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts forecast that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

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 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 dividend yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.