Chubb Limited (NYSE:CB) Stake Boosted by Virtu Financial LLC

Virtu Financial LLC raised its holdings in shares of Chubb Limited (NYSE:CB) by 799.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,752 shares of the financial services provider’s stock after purchasing an additional 12,223 shares during the period. Virtu Financial LLC’s holdings in Chubb were worth $3,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in Chubb in the 1st quarter worth about $25,000. Beacon Capital Management LLC raised its stake in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Chilton Capital Management LLC acquired a new position in Chubb during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb in the second quarter worth $28,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb during the fourth quarter valued at $29,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

NYSE CB opened at $291.32 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $118.29 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. Chubb Limited has a 12-month low of $204.15 and a 12-month high of $294.18. The company has a 50 day moving average price of $273.16 and a two-hundred day moving average price of $262.30.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. Chubb’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.92 EPS. As a group, equities analysts predict that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.25%. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Insiders Place Their Bets

In other news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were 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 in the company, valued at $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The disclosure for this sale can be found here. Insiders sold 94,836 shares of company stock valued at $27,055,900 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Royal Bank of Canada boosted their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price target on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $274.70.

About Chubb

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.