Horizon Investment Services LLC Acquires New Stake in Chubb Limited $CB

Horizon Investment Services LLC bought a new position in shares of Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,248 shares of the financial services provider’s stock, valued at approximately $3,492,000.

A number of other institutional investors also recently modified their holdings of CB. Berkshire Hathaway Inc raised its position in Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares during the last quarter. State Street Corp grew its stake in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after acquiring an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. GQG Partners LLC lifted its position in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CB shares. Cantor Fitzgerald lifted their price target on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Atlantic Securities set a $301.00 price target on Chubb in a research report on Wednesday, July 15th. The Goldman Sachs Group boosted their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods increased their price objective on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average price target of $360.09.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company’s stock.

Chubb Trading Up 0.0%

Shares of Chubb stock opened at $343.80 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day simple moving average of $344.31 and a two-hundred day simple moving average of $332.19. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a market capitalization of $132.64 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.14 earnings per share. Research analysts forecast that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio is currently 14.43%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.