Moors & Cabot Inc. Boosts Position in Chubb Limited (NYSE:CB)

Moors & Cabot Inc. raised its stake in Chubb Limited (NYSE:CB) 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 (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the prior year, the firm posted $4.92 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that Chubb Limited will post 21.2 earnings per share for the current year.

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.

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.