Pointe Capital Management LLC Makes New Investment in Chubb Limited $CB

Pointe Capital Management LLC purchased a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,459 shares of the financial services provider’s stock, valued at approximately $497,000.

A number of other hedge funds have also made changes to their positions in the stock. XXEC Inc. acquired a new stake in Chubb in the 2nd quarter worth approximately $228,226,000. BlackRock Inc. acquired a new position in Chubb during the second quarter valued at approximately $9,913,336,000. GQG Partners LLC acquired a new position in Chubb during the second quarter valued at approximately $4,250,113,000. Norges Bank bought a new position in shares of Chubb in the fourth quarter valued at approximately $1,081,190,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Chubb in the second quarter valued at approximately $1,042,549,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Down 0.8%

CB opened at $342.90 on Wednesday. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $132.29 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.68 and a beta of 0.39. The business has a 50 day moving average of $346.53 and a 200-day moving average of $333.79.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion for 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%. Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $6.14 earnings per share. As a group, sell-side analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio is presently 14.43%.

Insiders Place Their Bets

In other Chubb news, 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 sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction on Friday, August 21st. The shares were 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 directly owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Cantor Fitzgerald raised their target price on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and lifted their target price for the stock from $370.00 to $373.00 in a report on Monday, July 6th. UBS Group boosted their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Mizuho upped their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. 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’s stock. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average target price 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.