Horizon Investment Services LLC Purchases Shares of 10,248 Chubb Limited $CB

Horizon Investment Services LLC acquired a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,248 shares of the financial services provider’s stock, valued at approximately $3,492,000.

Several other hedge funds also recently modified their holdings of CB. Berkshire Hathaway Inc grew its position in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares during the last quarter. State Street Corp boosted its stake in Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $343.80 on Monday. The stock has a market cap of $132.64 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. The stock has a 50-day moving average of $344.31 and a 200-day moving average of $332.19. 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 Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Announces Dividend

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

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated 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 directly owned 203,322 shares of the company’s stock, valued at approximately $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. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. Cantor Fitzgerald lifted their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $360.09.

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.