Bedell Frazier Investment Counselling LLC Takes Position in Chubb Limited (NYSE:CB)

Bedell Frazier Investment Counselling LLC acquired a new stake in shares of Chubb Limited (NYSE:CB) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,050 shares of the financial services provider’s stock, valued at approximately $591,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Independent Advisor Alliance increased its holdings in Chubb by 5.3% in the 3rd quarter. Independent Advisor Alliance now owns 37,721 shares of the financial services provider’s stock valued at $10,878,000 after acquiring an additional 1,905 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Chubb by 70.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,760 shares of the financial services provider’s stock valued at $796,000 after acquiring an additional 1,143 shares during the last quarter. Bank of Hawaii increased its holdings in Chubb by 2.0% in the 3rd quarter. Bank of Hawaii now owns 3,743 shares of the financial services provider’s stock valued at $1,079,000 after acquiring an additional 75 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Chubb by 6.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 48,558 shares of the financial services provider’s stock valued at $14,004,000 after acquiring an additional 3,027 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in Chubb by 3.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 4,982 shares of the financial services provider’s stock valued at $1,437,000 after acquiring an additional 151 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the sale, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. The trade was a 4.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,715 shares of company stock valued at $23,803,540 in the last three months. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Chubb stock opened at $285.21 on Monday. The stock has a market cap of $114.97 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 6.65 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05. The firm has a 50-day moving average of $287.46 and a two-hundred day moving average of $274.58.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.95 EPS. On average, research analysts forecast that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.91 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities lifted their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus target price of $287.37.

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.