Haverford Trust Co Purchases Shares of 9,849 Chubb Limited $CB

Haverford Trust Co acquired a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,849 shares of the financial services provider’s stock, valued at approximately $3,356,000.

Several other hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after purchasing an additional 5,225 shares in the last quarter. National Pension Service lifted its stake in Chubb by 24.4% in the 4th quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock worth $358,462,000 after acquiring an additional 225,515 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Chubb by 884.1% in the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after purchasing an additional 8,947 shares in the last quarter. Bessemer Group Inc. lifted its position in Chubb by 16.8% in the 1st 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. Finally, Seizert Capital Partners LLC acquired a new stake in Chubb during the fourth quarter valued at $3,486,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction 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 directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president 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 SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. 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 report on Thursday, July 9th. Citigroup reissued a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and increased their price target for the company from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $361.00.

Chubb Trading Down 0.5%

Shares of CB stock opened at $341.15 on Friday. The company has a market capitalization of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $345.88 and a 200 day moving average price of $333.31.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.14 earnings per share. Research analysts forecast that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

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