NEOS Investment Management LLC Acquires 16,545 Shares of Chubb Limited $CB

NEOS Investment Management LLC boosted its position in Chubb Limited (NYSE:CB) by 49.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,085 shares of the financial services provider’s stock after buying an additional 16,545 shares during the quarter. NEOS Investment Management LLC’s holdings in Chubb were worth $14,136,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Westbourne Investment Advisors Inc. increased its position in Chubb by 12.3% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Chubb by 14.1% during the second quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock valued at $20,655,000 after acquiring an additional 8,828 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Chubb by 166.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 2,315 shares during the last quarter. Liberty One Investment Management LLC bought a new position in shares of Chubb during the third quarter valued at about $51,167,000. Finally, Caprock Group LLC bought a new position in Chubb in the 3rd quarter valued at $3,123,000. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 2.1%

CB stock opened at $331.75 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24. Chubb Limited has a one year low of $263.14 and a one year high of $335.60. The firm has a market cap of $130.56 billion, a PE ratio of 12.89, a P/E/G ratio of 2.07 and a beta of 0.49. The firm’s fifty day moving average is $311.88 and its 200 day moving average is $292.26.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same period last year, the business posted $6.02 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s payout ratio is currently 15.08%.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,307 shares of company stock worth $17,611,016 in the last three months. Insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CB shares. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. BMO Capital Markets lifted their target price on shares of Chubb from $283.00 to $326.00 and gave the company a “market perform” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $327.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft increased their price target on Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a report on Monday, November 24th. Finally, Morgan Stanley set a $350.00 price objective on Chubb in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $340.81.

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.