6,892 Shares in Chubb Limited $CB Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC purchased a new position in Chubb Limited (NYSE:CB) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 6,892 shares of the financial services provider’s stock, valued at approximately $2,348,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. XXEC Inc. acquired a new position in shares of Chubb during the second quarter valued at about $228,226,000. Berkshire Hathaway Inc grew its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares during the period. BlackRock Inc. bought a new stake in Chubb in the 2nd quarter valued at about $9,913,336,000. State Street Corp increased its position in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the period. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the company from $370.00 to $373.00 in a report on Monday, July 6th. Cantor Fitzgerald upped their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. UBS Group increased their target price on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Evercore reissued an “outperform” rating and issued a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $361.00.

Chubb Stock Performance

Shares of Chubb stock opened at $341.15 on Friday. The company has a market cap of $131.62 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.65 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 business has a 50 day moving average price of $345.88 and a 200-day moving average price of $333.31. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (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 analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.14 EPS. Equities analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared 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 is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is 14.43%.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction that occurred 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 directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

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.