Coastal Bridge Advisors LLC Acquires Shares of 8,045 Chubb Limited $CB

Coastal Bridge Advisors LLC bought a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,045 shares of the financial services provider’s stock, valued at approximately $2,741,000.

A number of other institutional investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares during the last quarter. National Pension Service increased its holdings in shares of Chubb by 24.4% in the 4th quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock worth $358,462,000 after purchasing an additional 225,515 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Chubb by 884.1% in the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after purchasing an additional 8,947 shares during the last quarter. Berkshire Hathaway Inc purchased a new position in shares of Chubb in the second quarter worth $11,670,067,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Chubb by 16.8% during the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 2,389 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $338.19 on Friday. The company has a market capitalization of $130.47 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 0.39. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The firm’s 50 day simple moving average is $347.13 and its two-hundred day simple moving average is $333.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS 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 firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the firm earned $6.14 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Research analysts expect that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The firm 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 dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Transactions at Chubb

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CB shares. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. The Goldman Sachs Group boosted their price objective on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and raised their target price for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Morgan Stanley boosted their target price on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $361.00.

About Chubb

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.