Choreo LLC Grows Stock Position in Chubb Limited (NYSE:CB)

Choreo LLC increased its position in shares of Chubb Limited (NYSE:CB) by 593.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,353 shares of the financial services provider’s stock after purchasing an additional 10,572 shares during the quarter. Choreo LLC’s holdings in Chubb were worth $3,148,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CB. Pathway Financial Advisers LLC purchased a new position in Chubb in the 1st quarter worth approximately $25,000. Beacon Capital Management LLC grew its position in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Chubb in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Chubb during the second quarter worth $28,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb in the 4th quarter valued at $29,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Down 0.4 %

Chubb stock opened at $291.03 on Wednesday. The firm has a market capitalization of $117.56 billion, a P/E ratio of 12.92, a P/E/G ratio of 5.65 and a beta of 0.66. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The stock’s fifty day simple moving average is $270.37 and its 200-day simple moving average is $261.33.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.92 EPS. As a group, equities analysts expect that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio is currently 16.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Roth Mkm upped their price objective on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JMP Securities raised their target price on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $274.70.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. Insiders sold 94,836 shares of company stock worth $27,055,900 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.