Chubb Limited $CB Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its stake in Chubb Limited (NYSE:CB) by 301.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,919 shares of the financial services provider’s stock after acquiring an additional 3,695 shares during the period. Proficio Capital Partners LLC’s holdings in Chubb were worth $1,676,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CB. Janney Montgomery Scott LLC grew its position 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 worth $102,959,000 after purchasing an additional 5,225 shares during the last quarter. Equitable Holdings Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $4,139,000. XXEC Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $26,210,000. Berkshire Hathaway Inc acquired a new stake in shares of Chubb during the second quarter worth about $11,670,067,000. Finally, Glenview Trust Co acquired a new stake in shares of Chubb during the second quarter worth about $11,147,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CB. Mizuho boosted their price target on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. HSBC cut Chubb from a “buy” rating to a “hold” rating and increased their price objective for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Weiss Ratings lowered Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Finally, Cantor Fitzgerald upped their price target on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $361.00.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Chubb Trading Down 0.2%

Shares of Chubb stock opened at $339.30 on Tuesday. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day moving average price of $347.74 and a 200 day moving average price of $334.12. The company has a market capitalization of $130.90 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.66 and a beta of 0.39.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion for 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%.Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.14 EPS. Sell-side analysts anticipate that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

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

Chubb 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.