Tocqueville Asset Management L.P. Takes Position in Chubb Limited $CB

Tocqueville Asset Management L.P. acquired a new position in Chubb Limited (NYSE:CB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 109,064 shares of the financial services provider’s stock, valued at approximately $37,162,000.

Several other large investors have also modified their holdings of CB. IMG Wealth Management Inc. bought a new position in Chubb in the 2nd quarter worth $25,000. Dunhill Financial LLC acquired a new position in Chubb during the 2nd quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the period. Frazier Financial Advisors LLC boosted its holdings in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb in the first quarter valued at about $29,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CB shares. Barclays set a $387.00 price objective on Chubb in a research note on Tuesday, July 7th. Jefferies Financial Group decreased their target price on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their price objective on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Stock Performance

NYSE:CB opened at $341.45 on Thursday. The firm’s 50-day moving average is $345.32 and its 200-day moving average is $333.02. The company has a market cap of $131.73 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.71 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter last year, the company earned $6.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.