Dockside LLC Buys New Shares in Chubb Limited $CB

Dockside LLC purchased a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 5,094 shares of the financial services provider’s stock, valued at approximately $1,736,000.

A number of other hedge funds also recently made changes to their positions in CB. Norges Bank acquired a new stake in Chubb during the fourth quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD increased its stake in shares of Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. Berkshire Hathaway Inc increased its stake in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Chubb during the 4th quarter worth approximately $795,378,000. Finally, GQG Partners LLC lifted its holdings in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Barclays set a $387.00 target price on shares of Chubb in a research report on Tuesday, July 7th. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group lowered their price target on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $360.09.

Chubb Price Performance

Chubb stock opened at $343.80 on Friday. The firm has a market cap of $132.64 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. 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 stock’s fifty day moving average price is $344.31 and its two-hundred day moving average price is $331.99. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $6.14 EPS. As a group, research analysts expect that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

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

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

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.