Summit Global Investments Purchases 59 Shares of Chubb Limited (NYSE:CB)

Summit Global Investments boosted its position in Chubb Limited (NYSE:CB) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,452 shares of the financial services provider’s stock after purchasing an additional 59 shares during the quarter. Summit Global Investments’ holdings in Chubb were worth $370,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ING Groep NV boosted its stake in Chubb by 175,378.1% in the 4th quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock valued at $25,381,000 after purchasing an additional 112,242 shares during the period. Van Leeuwen & Company LLC boosted its stake in Chubb by 602.7% in the 4th quarter. Van Leeuwen & Company LLC now owns 7,941 shares of the financial services provider’s stock valued at $1,795,000 after purchasing an additional 6,811 shares during the period. Gilliland Jeter Wealth Management LLC bought a new stake in Chubb in the 4th quarter valued at $1,408,000. MONECO Advisors LLC bought a new stake in shares of Chubb during the 4th quarter valued at $209,000. Finally, ORG Partners LLC bought a new stake in shares of Chubb during the 2nd quarter valued at $963,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their target price on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Morgan Stanley cut their target price on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. JMP Securities upped their target price on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $270.79.

Chubb Trading Down 0.1 %

Shares of CB stock traded down $0.29 on Wednesday, hitting $271.74. The company had a trading volume of 435,747 shares, compared to its average volume of 1,621,486. The firm has a market cap of $110.34 billion, a P/E ratio of 12.07, a P/E/G ratio of 5.21 and a beta of 0.66. The stock’s 50-day moving average is $264.01 and its two-hundred day moving average is $257.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.31. Chubb Limited has a twelve month low of $198.49 and a twelve month high of $277.91.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter in the prior year, the firm posted $4.92 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Chubb Limited will post 21.15 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.34%. Chubb’s payout ratio is 16.16%.

Insider Activity at Chubb

In related news, EVP Juan Luis Ortega sold 2,400 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate 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.