Stoneridge Investment Partners LLC Acquires 5,515 Shares of Chubb Limited (NYSE:CB)

Stoneridge Investment Partners LLC lifted its holdings in shares of Chubb Limited (NYSE:CB) by 142.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,374 shares of the financial services provider’s stock after purchasing an additional 5,515 shares during the period. Stoneridge Investment Partners LLC’s holdings in Chubb were worth $2,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Norges Bank bought a new position in Chubb in the 4th quarter worth approximately $957,756,000. Capital Research Global Investors lifted its stake in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after acquiring an additional 2,064,730 shares during the period. Capital World Investors boosted its holdings in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Chubb in the first quarter worth about $165,932,000. Finally, Bank of Nova Scotia increased its position in Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CB has been the topic of several recent research reports. Bank of America raised their target price on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays initiated coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. Royal Bank of Canada raised their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley decreased their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $274.70.

Chubb Price Performance

Shares of NYSE CB opened at $288.87 on Friday. The company has a fifty day moving average price of $272.40 and a 200 day moving average price of $261.92. The firm has a market cap of $116.68 billion, a PE ratio of 12.82, a PEG ratio of 5.59 and a beta of 0.66. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $204.15 and a 1-year high of $294.18.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $4.92 earnings per share. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Insider Transactions at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Michael G. Atieh sold 261 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. Insiders have sold a total of 94,836 shares of company stock valued at $27,055,900 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Chubb Profile

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.