Verus Capital Partners LLC Purchases Shares of 4,118 Chubb Limited $CB

Verus Capital Partners LLC acquired a new position in shares of Chubb Limited (NYSE:CB) in the 1st quarter, HoldingsChannel reports. The fund acquired 4,118 shares of the financial services provider’s stock, valued at approximately $1,342,000.

Several other large investors also recently made changes to their positions in CB. Berkshire Hathaway Inc raised its stake in shares of 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 acquiring an additional 2,916,288 shares during the period. State Street Corp increased its holdings in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Chubb by 25.6% in the 4th 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 in the last quarter. GQG Partners LLC raised its position in Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after purchasing an additional 1,647,729 shares during the period. Finally, Bank of America Corp DE raised its position in 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 valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions 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 stock was 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 owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb 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 in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $351.08 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.28. The company’s fifty day moving average price is $338.33 and its two-hundred day moving average price is $328.73. The firm has a market capitalization of $135.45 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.74 and a beta of 0.40. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $365.91.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm earned $6.14 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts anticipate that Chubb Limited will post 27.4 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $1.02 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CB. Evercore restated an “outperform” rating and set a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Barclays set a $387.00 target price on Chubb in a research note on Tuesday, July 7th. Citigroup reiterated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Atlantic Securities set a $301.00 price target on Chubb in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $360.09.

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.