Grimes & Company Inc. Raises Stock Position in Chubb Limited $CB

Grimes & Company Inc. grew its stake in shares of Chubb Limited (NYSE:CB) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,185 shares of the financial services provider’s stock after acquiring an additional 248 shares during the period. Grimes & Company Inc.’s holdings in Chubb were worth $633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Chubb during the first quarter worth $25,000. North Capital Inc. purchased a new position in shares of Chubb in the first quarter valued at $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb during the 1st quarter worth $31,000. 1248 Management LLC purchased a new stake in shares of Chubb in the 1st quarter worth about $31,000. Finally, WPG Advisers LLC acquired a new stake in Chubb in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.86% of the stock is currently owned by insiders.

Chubb Trading Up 0.8%

Shares of Chubb stock opened at $286.37 on Tuesday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The business’s fifty day moving average is $275.17 and its two-hundred day moving average is $282.03. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $114.17 billion, a PE ratio of 12.63, a P/E/G ratio of 3.20 and a beta of 0.54.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the business earned $5.38 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s dividend payout ratio is currently 17.12%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CB. UBS Group cut their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Citigroup started coverage on Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Wells Fargo & Company lowered their target price on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a research report on Saturday, September 27th. Finally, Morgan Stanley cut their price target on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $303.72.

Chubb Company 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.