Diversify Advisory Services LLC Takes Position in Chubb Limited $CB

Diversify Advisory Services LLC purchased a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,170 shares of the financial services provider’s stock, valued at approximately $1,138,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Chubb during the second quarter valued at $9,913,336,000. Norges Bank acquired a new position in shares of Chubb during the fourth quarter valued at approximately $1,081,190,000. Bank of New York Mellon Corp acquired a new position in Chubb in the 2nd quarter valued at $1,042,549,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 buying an additional 3,049,987 shares in the last quarter. Finally, Berkshire Hathaway Inc lifted its stake in Chubb by 9.3% in 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 purchasing an additional 2,916,288 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $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. Corporate insiders own 0.37% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $341.45 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $131.73 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.71 and a beta of 0.39. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The business’s fifty day moving average price is $345.32 and its two-hundred day moving average price is $333.02.

Chubb (NYSE:CB) last announced 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. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.14 EPS. On average, analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CB. Evercore reiterated an “outperform” rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Cantor Fitzgerald increased their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. BMO Capital Markets increased their price objective on Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Atlantic Securities set a $301.00 price target on Chubb in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $361.00.

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.