IFP Advisors Inc Boosts Holdings in Chubb Limited $CB

IFP Advisors Inc raised its position in Chubb Limited (NYSE:CB) by 75.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,346 shares of the financial services provider’s stock after acquiring an additional 4,014 shares during the quarter. IFP Advisors Inc’s holdings in Chubb were worth $3,185,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in shares of Chubb during the second quarter worth about $25,000. Dunhill Financial LLC purchased a new position in Chubb during the second quarter worth about $25,000. Parvin Asset Management LLC acquired a new stake in Chubb in the second quarter valued at about $26,000. Highland Investment Advisors LLC acquired a new stake in Chubb in the second quarter valued at about $26,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CB shares. Keefe, Bruyette & Woods increased their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Cantor Fitzgerald lifted their price target on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Mizuho increased their price objective on Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $361.00.

Insiders Place Their Bets

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Chubb Price Performance

CB stock opened at $338.51 on Friday. The firm has a 50 day moving average of $347.43 and a 200-day moving average of $334.75. The company has a market cap of $130.60 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.61 and a beta of 0.37. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91.

Chubb (NYSE:CB) last released its quarterly 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 business had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the prior year, the firm posted $6.14 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.