Somerville Kurt F Invests $716,000 in Chubb Limited $CB

Somerville Kurt F bought a new stake in Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,100 shares of the financial services provider’s stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Frazier Financial Advisors LLC purchased a new position in Chubb during the second quarter worth about $28,000. Northcape Wealth Management LLC acquired a new stake in Chubb in the second quarter valued at about $4,279,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Chubb in the 2nd quarter valued at approximately $1,116,000. Strathmore Capital Advisors Inc. purchased a new stake in Chubb in the 2nd quarter valued at approximately $666,000. Finally, Csenge Advisory Group acquired a new position in Chubb during the 2nd quarter worth approximately $1,012,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB stock opened at $341.45 on Thursday. The stock has a fifty day moving average price of $345.32 and a 200 day moving average price of $333.02. 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 P/E/G ratio of 1.71 and a beta of 0.39. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91.

Chubb (NYSE:CB) last posted 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 return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the company earned $6.14 earnings per share. Chubb’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the firm’s 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 owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and lifted their price target for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Finally, Morgan Stanley raised their target price on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and an average 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.