Moors & Cabot Inc. raised its stake in Chubb Limited (NYSE:CB – Free Report) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,980 shares of the financial services provider’s stock after buying an additional 378 shares during the period. Moors & Cabot Inc.’s holdings in Chubb were worth $2,801,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC purchased a new stake in Chubb in the first quarter worth about $25,000. Beacon Capital Management LLC lifted its position in shares of Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 42 shares during the period. Chilton Capital Management LLC purchased a new stake in shares of Chubb in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb during the second quarter valued at approximately $28,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Chubb during the fourth quarter valued at approximately $29,000. 83.81% of the stock is currently owned by institutional investors.
Chubb Trading Down 0.2 %
Shares of Chubb stock opened at $290.78 on Wednesday. The firm has a fifty day moving average price of $273.91 and a 200 day moving average price of $262.59. The stock has a market cap of $118.07 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued 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 payout ratio is 16.16%.
Analyst Ratings Changes
Several analysts have issued reports on the company. JMP Securities increased their target price on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. William Blair downgraded shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Roth Mkm boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One 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.com, the stock currently has an average rating of “Hold” and an average target price of $274.70.
Get Our Latest Stock Report on CB
Insiders Place Their Bets
In other 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 transaction 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 approximately $12,199,649.18. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated 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 sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,836 shares of company stock worth $27,055,900. 0.86% of the stock is owned by corporate insiders.
Chubb Profile
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.
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