Coastal Bridge Advisors LLC Purchases Shares of 8,045 Chubb Limited $CB

Coastal Bridge Advisors LLC purchased a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,045 shares of the financial services provider’s stock, valued at approximately $2,741,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC grew 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 buying an additional 5,225 shares in the last quarter. National Pension Service increased 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 during the last quarter. Harbour Investments Inc. raised its holdings in shares of Chubb by 884.1% during the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after acquiring an additional 8,947 shares in the last quarter. Berkshire Hathaway Inc bought a new position in shares of Chubb during the 2nd quarter valued at approximately $11,670,067,000. Finally, Bessemer Group Inc. boosted its position in shares of Chubb by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after acquiring an additional 2,389 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 1.6%

Shares of CB opened at $338.19 on Friday. The company’s fifty day simple moving average is $347.13 and its 200-day simple moving average is $333.92. The company has a market cap of $130.47 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 0.39. 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 twelve month low of $265.30 and a twelve 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 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during 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 firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $6.14 EPS. As a group, analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid 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 (DPR) is presently 14.43%.

Insider Activity at Chubb

In other news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was 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 in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’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 directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CB shares. Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. Cantor Fitzgerald lifted their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $361.00.

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.