Grimes & Company Inc. Raises Holdings in Chubb Limited $CB

Grimes & Company Inc. boosted its position in Chubb Limited (NYSE:CB) by 12.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,185 shares of the financial services provider’s stock after purchasing an additional 248 shares during the quarter. Grimes & Company Inc.’s holdings in Chubb were worth $633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC grew its holdings in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Nuveen LLC acquired a new position in Chubb during the first quarter valued at approximately $562,221,000. Demars Financial Group LLC grew its stake in Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after buying an additional 878,177 shares during the period. SG Americas Securities LLC increased its position in shares of Chubb by 1,243.9% in the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock worth $205,491,000 after acquiring an additional 629,822 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after acquiring an additional 304,751 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB opened at $286.37 on Tuesday. The firm has a market cap of $114.17 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 3.20 and a beta of 0.54. 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 business’s 50 day moving average is $275.17 and its two-hundred day moving average is $282.03. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.38 earnings per share. Analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s payout ratio is presently 17.12%.

Insider Activity at Chubb

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CB. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and decreased their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a report on Wednesday, August 13th. Morgan Stanley reduced their price target on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Finally, Wolfe Research raised shares of Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $303.72.

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.