Chubb Limited $CB Shares Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its position in shares of Chubb Limited (NYSE:CB) by 50.0% during the second quarter, HoldingsChannel reports. The firm owned 4,500 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Chubb were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CB. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the first quarter worth $25,000. North Capital Inc. acquired a new position in shares of Chubb during the first quarter worth $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb during the first quarter worth $31,000. 1248 Management LLC acquired a new position in shares of Chubb during the first quarter worth $31,000. Finally, WPG Advisers LLC acquired a new position in shares of Chubb during the first quarter worth $33,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. Citigroup began coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target for the company. Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research note on Saturday, September 27th. Finally, HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and dropped their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chubb has a consensus rating of “Hold” and an average price target of $303.24.

Chubb Stock Up 0.9%

CB stock opened at $283.99 on Friday. 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 Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The firm has a fifty day moving average price of $274.76 and a two-hundred day moving average price of $282.15. The firm has a market cap of $113.22 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 3.20 and a beta of 0.54.

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

Chubb Dividend Announcement

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

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.