Welch & Forbes LLC Acquires 4,100 Shares of Chubb Ltd (NYSE:CB)

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Welch & Forbes LLC boosted its position in shares of Chubb Ltd (NYSE:CB) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 328,835 shares of the financial services provider’s stock after acquiring an additional 4,100 shares during the quarter. Chubb accounts for 1.3% of Welch & Forbes LLC’s investment portfolio, making the stock its 20th largest holding. Welch & Forbes LLC’s holdings in Chubb were worth $53,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC raised its position in shares of Chubb by 4.3% during the second quarter. Alpha Cubed Investments LLC now owns 1,708 shares of the financial services provider’s stock valued at $252,000 after buying an additional 70 shares during the last quarter. Monetary Management Group Inc. raised its position in shares of Chubb by 3.4% during the first quarter. Monetary Management Group Inc. now owns 2,275 shares of the financial services provider’s stock valued at $319,000 after buying an additional 75 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Chubb by 2.8% during the second quarter. Flagship Harbor Advisors LLC now owns 2,721 shares of the financial services provider’s stock valued at $400,000 after buying an additional 75 shares during the last quarter. Torch Wealth Management LLC raised its position in shares of Chubb by 0.5% during the second quarter. Torch Wealth Management LLC now owns 16,148 shares of the financial services provider’s stock valued at $2,378,000 after buying an additional 75 shares during the last quarter. Finally, BTR Capital Management Inc. raised its position in shares of Chubb by 5.0% during the second quarter. BTR Capital Management Inc. now owns 1,656 shares of the financial services provider’s stock valued at $244,000 after buying an additional 79 shares during the last quarter. Institutional investors own 89.44% of the company’s stock.

In related news, insider Paul J. Krump sold 6,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $160.00, for a total value of $960,000.00. Following the completion of the transaction, the insider now directly owns 112,865 shares of the company’s stock, valued at $18,058,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 6,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $158.05, for a total transaction of $1,027,325.00. Following the completion of the transaction, the executive vice president now directly owns 77,201 shares of the company’s stock, valued at $12,201,618.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,625 shares of company stock valued at $4,037,880. 0.47% of the stock is currently owned by insiders.

Shares of CB stock traded up $0.11 on Friday, reaching $155.50. The company’s stock had a trading volume of 103,533 shares, compared to its average volume of 1,516,710. The stock’s fifty day simple moving average is $158.28 and its 200-day simple moving average is $149.56. Chubb Ltd has a 1 year low of $119.54 and a 1 year high of $162.44. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $70.86 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.50 and a beta of 0.70.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.02. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the firm posted $2.68 earnings per share. Chubb’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Chubb Ltd will post 10.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, September 19th. Chubb’s dividend payout ratio (DPR) is presently 31.78%.

CB has been the topic of several recent analyst reports. Raymond James reiterated a “strong-buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Chubb in a research report on Friday, July 5th. Atlantic Securities cut shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price objective on the stock. in a research report on Thursday, June 20th. UBS Group lifted their price objective on shares of Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. ValuEngine cut shares of Chubb from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co lifted their price objective on shares of Chubb from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $153.91.

About Chubb

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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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