Bingham Private Wealth LLC Acquires New Position in Chubb Limited $CB

Bingham Private Wealth LLC bought a new position in shares of Chubb Limited (NYSE:CB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,703 shares of the financial services provider’s stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. GQG Partners LLC lifted its stake in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Demars Financial Group LLC increased its stake in Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after buying an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Chubb by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after buying an additional 30,334 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Chubb in the 1st quarter valued at about $562,221,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.

Chubb Trading Up 0.8%

NYSE:CB opened at $286.37 on Tuesday. The business’s 50-day moving average is $275.17 and its two-hundred day moving average is $282.03. The firm has a market capitalization of $114.17 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.38 earnings per share. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s dividend payout ratio (DPR) is currently 17.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Chubb from $299.00 to $303.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup assumed coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group cut their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Finally, Wolfe Research raised Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued 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, Chubb currently has a consensus rating of “Hold” and a consensus target price of $303.72.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.