Shorepoint Capital Partners LLC Buys Shares of 4,514 Chubb Limited $CB

Shorepoint Capital Partners LLC bought a new position in Chubb Limited (NYSE:CB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,514 shares of the financial services provider’s stock, valued at approximately $1,274,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. 1248 Management LLC bought a new stake in shares of Chubb during the first quarter worth $31,000. VSM Wealth Advisory LLC acquired a new stake in shares of Chubb during the second quarter valued at about $32,000. WPG Advisers LLC acquired a new stake in shares of Chubb during the first quarter valued at about $33,000. Maseco LLP bought a new position in Chubb in the 2nd quarter valued at approximately $35,000. Finally, Access Investment Management LLC bought a new stake in Chubb during the 2nd quarter worth approximately $41,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. HSBC lifted their target price on Chubb from $302.00 to $304.00 in a report on Wednesday, October 29th. Wolfe Research increased their price target on Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Morgan Stanley lifted their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods upped their target price on Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $310.20.

Insider Buying and Selling

In related news, insider John J. Lupica sold 23,698 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider directly owned 90,600 shares in the company, valued at $25,458,600. This trade represents a 20.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,333 shares of company stock valued at $16,629,873. 0.86% of the stock is owned by company insiders.

Chubb Stock Performance

Shares of CB stock opened at $312.58 on Tuesday. The firm has a 50 day moving average of $288.79 and a 200-day moving average of $282.27. The company has a market cap of $123.02 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 3.52 and a beta of 0.51. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $313.04.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.72 EPS. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Chubb Company 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.