Bowen Hanes & Co. Inc. Buys 398 Shares of Chubb Limited $CB

Bowen Hanes & Co. Inc. raised its holdings in Chubb Limited (NYSE:CB) by 5.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,425 shares of the financial services provider’s stock after purchasing an additional 398 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Chubb were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. E Fund Management Co. Ltd. increased its holdings in Chubb by 3.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock valued at $291,000 after buying an additional 36 shares during the period. Sunflower Bank N.A. increased its holdings in Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock valued at $273,000 after buying an additional 38 shares during the period. Avantax Planning Partners Inc. increased its holdings in Chubb by 5.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock valued at $236,000 after buying an additional 38 shares during the period. Lincoln Capital LLC increased its holdings in Chubb by 0.6% in the 1st quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider’s stock valued at $2,022,000 after buying an additional 39 shares during the period. Finally, HighPoint Advisor Group LLC increased its holdings in Chubb by 0.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider’s stock valued at $2,524,000 after buying an additional 40 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Barclays lowered shares of Chubb from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. UBS Group lowered their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a report on Wednesday, August 13th. Finally, Evercore ISI set a $312.00 target price on shares of Chubb in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Chubb has a consensus rating of “Hold” and an average price target of $302.00.

Insider Buying and Selling

In other news, COO John W. Keogh sold 9,794 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat purchased 425 shares of the firm’s 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 purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.86% of the stock is owned by corporate insiders.

Chubb Price Performance

NYSE CB opened at $272.81 on Tuesday. The business has a 50 day simple moving average of $277.52 and a 200 day simple moving average of $282.54. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $108.77 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 3.09 and a beta of 0.53.

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, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the business earned $5.38 EPS. Chubb’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s dividend payout ratio is presently 17.12%.

Chubb declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Chubb Company 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.