Peregrine Asset Advisers Inc. acquired a new stake in shares of Chubb Ltd (NYSE:CB) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,665 shares of the financial services provider’s stock, valued at approximately $513,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Claybrook Capital LLC purchased a new stake in shares of Chubb during the 4th quarter valued at $25,000. Sageworth Trust Co purchased a new position in Chubb in the 1st quarter worth $29,000. Gradient Investments LLC raised its stake in Chubb by 260.0% in the 4th quarter. Gradient Investments LLC now owns 216 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 156 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its stake in Chubb by 114.7% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 219 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 117 shares during the last quarter. Finally, Executive Wealth Management LLC purchased a new position in Chubb in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 88.96% of the company’s stock.
In other news, Director Michael G. Atieh sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $141.87, for a total transaction of $283,740.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John J. Lupica sold 17,879 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $134.95, for a total value of $2,412,771.05. Following the sale, the insider now owns 192,265 shares in the company, valued at $25,946,161.75. The disclosure for this sale can be found here. Insiders have sold a total of 23,329 shares of company stock worth $3,196,761 over the last ninety days. 0.47% of the stock is owned by insiders.
CB traded up $1.81 during midday trading on Wednesday, hitting $148.02. 1,118,109 shares of the company were exchanged, compared to its average volume of 1,497,508. The company has a market capitalization of $66.39 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Ltd has a 1-year low of $119.54 and a 1-year high of $148.39.
Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.05. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.55 billion. Chubb had a return on equity of 8.76% and a net margin of 11.55%. During the same period last year, the firm earned $2.34 EPS. Analysts forecast that Chubb Ltd will post 10.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be given a dividend of $0.75 per share. This is an increase from Chubb’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, June 20th. Chubb’s dividend payout ratio (DPR) is currently 30.93%.
CB has been the subject of a number of research analyst reports. Raymond James reduced their target price on Chubb from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 11th. Zacks Investment Research upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Morgan Stanley lowered Chubb from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 17th. Credit Suisse Group lowered Chubb from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $141.00 to $131.00 in a research note on Wednesday, February 27th. Finally, Sandler O’Neill lowered Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $150.67.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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