Griffin Asset Management Inc. Sells 114 Shares of Chubb Limited $CB

Griffin Asset Management Inc. decreased its stake in Chubb Limited (NYSE:CB) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,123 shares of the financial services provider’s stock after selling 114 shares during the period. Griffin Asset Management Inc.’s holdings in Chubb were worth $2,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Chubb in the 1st quarter valued at approximately $25,000. North Capital Inc. bought a new position in Chubb in the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. bought a new position in Chubb in the 1st quarter valued at approximately $31,000. 1248 Management LLC bought a new position in Chubb in the 1st quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new position in Chubb in the 1st quarter valued at approximately $33,000. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.4%

CB opened at $283.08 on Monday. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $276.67 and a 200-day moving average of $281.80. The stock has a market cap of $112.86 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 3.18 and a beta of 0.54.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping 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 company 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 company posted $5.38 earnings per share. Chubb’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current 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 given a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CB. The Goldman Sachs Group upped their price target on shares of Chubb from $299.00 to $303.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group upped their price target on shares of Chubb from $295.00 to $297.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Finally, Wolfe Research upgraded shares of Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.82.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by company insiders.

About Chubb

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.