Horizon Bancorp Inc. IN Makes New Investment in Chubb Limited $CB

Horizon Bancorp Inc. IN purchased a new position in shares of Chubb Limited (NYSE:CB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 500 shares of the financial services provider’s stock, valued at approximately $145,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the 1st quarter worth approximately $31,000. 1248 Management LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $31,000. Finally, WPG Advisers LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $33,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost 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 filing with the SEC, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a research report on Wednesday. Evercore ISI lifted their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wolfe Research raised shares of Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.82.

Chubb Stock Performance

Shares of CB opened at $284.13 on Friday. The company’s 50 day moving average price is $276.36 and its 200 day moving average price is $282.07. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a market capitalization of $113.28 billion, a PE ratio of 12.53, a PEG ratio of 3.23 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the firm posted $5.38 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

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

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.