Tocqueville Asset Management L.P. Buys New Stake in Chubb Limited $CB

Tocqueville Asset Management L.P. purchased a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 109,064 shares of the financial services provider’s stock, valued at approximately $37,162,000.

A number of other institutional investors also recently added to or reduced their stakes in CB. Janney Montgomery Scott LLC lifted its holdings in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares during the last quarter. waypoint wealth counsel grew its stake in Chubb by 76.4% during the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock worth $1,285,000 after buying an additional 1,784 shares during the last quarter. National Pension Service grew its stake in Chubb by 24.4% during the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock worth $358,462,000 after buying an additional 225,515 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after buying an additional 8,947 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Chubb by 16.8% during the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock worth $5,424,000 after buying an additional 2,389 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CB shares. UBS Group boosted their target price on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald boosted their price objective on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company decreased their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $361.00.

Chubb Stock Down 1.1%

Shares of CB opened at $341.45 on Thursday. The business’s fifty day moving average price is $345.32 and its two-hundred day moving average price is $333.02. The firm has a market capitalization of $131.73 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.71 and a beta of 0.39. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

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

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

Chubb Profile

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.