PFG Advisors Purchases 1,658 Shares of Chubb Limited (NYSE:CB)

PFG Advisors raised its position in Chubb Limited (NYSE:CB) by 96.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,370 shares of the financial services provider’s stock after acquiring an additional 1,658 shares during the period. PFG Advisors’ holdings in Chubb were worth $860,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Chubb during the fourth quarter worth $957,756,000. Capital Research Global Investors raised its holdings in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares during the last quarter. Capital World Investors lifted its position in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Confluence Investment Management LLC bought a new position in Chubb in the 1st quarter valued at about $165,932,000. Finally, Bank of Nova Scotia boosted its stake in Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after purchasing an additional 518,535 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CB. Barclays began coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Morgan Stanley dropped their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Roth Mkm lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $274.70.

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,836 shares of company stock valued at $27,055,900. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $288.87 on Friday. Chubb Limited has a 52-week low of $204.15 and a 52-week high of $294.18. The stock’s 50-day simple moving average is $272.40 and its 200 day simple moving average is $261.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $116.68 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $4.92 EPS. Research analysts forecast that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.