Bridges Investment Management Inc. Grows Stock Holdings in Chubb Limited $CB

Bridges Investment Management Inc. increased its position in shares of Chubb Limited (NYSE:CB) by 41.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,383 shares of the financial services provider’s stock after purchasing an additional 1,862 shares during the period. Bridges Investment Management Inc.’s holdings in Chubb were worth $1,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Chubb in the 2nd quarter valued at about $1,195,137,000. Bank of America Corp DE lifted its stake in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. London Co. of Virginia boosted its holdings in Chubb by 211.0% in the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock valued at $213,559,000 after purchasing an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC increased its stake in Chubb by 46.9% in the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after purchasing an additional 444,557 shares during the last quarter. Finally, Troy Asset Management Ltd raised its holdings in Chubb by 89.1% during the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock worth $229,872,000 after purchasing an additional 373,872 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB stock opened at $311.49 on Tuesday. The stock has a market capitalization of $122.59 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.99 and a beta of 0.49. Chubb Limited has a 52-week low of $263.14 and a 52-week high of $316.94. The stock’s 50-day moving average price is $305.10 and its 200 day moving average price is $287.83. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is presently 16.19%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CB. JMP Securities restated a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a report on Wednesday, October 22nd. Bank of America decreased their price objective on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. Jefferies Financial Group lifted their target price on Chubb from $302.00 to $326.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $354.00 target price for the company in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chubb has a consensus rating of “Moderate Buy” and an average target price of $324.00.

Insider Transactions at Chubb

In related news, EVP Timothy Alan Boroughs sold 850 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $295.19, for a total transaction of $250,911.50. Following the completion of the sale, the executive vice president directly owned 1,585 shares of the company’s stock, valued at $467,876.15. This trade represents a 34.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Lupica sold 16,375 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the transaction, the insider directly owned 74,225 shares in the company, valued at $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,635 shares of company stock worth $9,970,735 over the last 90 days. 0.86% of the stock is currently owned by insiders.

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.