Lecap Asset Management Ltd. Makes New Investment in Chubb Limited $CB

Lecap Asset Management Ltd. acquired a new stake in shares of Chubb Limited (NYSE:CB) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 7,784 shares of the financial services provider’s stock, valued at approximately $2,197,000. Chubb makes up about 0.8% of Lecap Asset Management Ltd.’s holdings, making the stock its 29th biggest position.

Several other hedge funds have also recently modified their holdings of CB. Harbor Capital Advisors Inc. grew its stake in Chubb by 93.6% during the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 44 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in Chubb in the 2nd quarter worth $32,000. Heartwood Wealth Advisors LLC bought a new position in shares of Chubb during the 3rd quarter valued at about $34,000. Maseco LLP purchased a new position in shares of Chubb during the second quarter valued at about $35,000. Finally, Financial Consulate Inc. bought a new stake in shares of Chubb in the third quarter worth about $37,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CB shares. HSBC increased their price target on Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Citigroup boosted their price target on shares of Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company upped their price target on shares of Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Chubb in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $316.55.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 16,375 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the sale, the insider owned 74,225 shares in the company, valued at $22,004,001.25. This trade represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,333 shares of company stock worth $16,629,873 over the last quarter. Company insiders own 0.77% of the company’s stock.

Chubb Trading Down 0.8%

Shares of CB opened at $306.71 on Thursday. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $316.94. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $300.09 and its 200-day simple moving average is $285.03. The company has a market cap of $120.70 billion, a P/E ratio of 12.80, a P/E/G ratio of 3.23 and a beta of 0.51.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The company had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same period in the prior year, the company posted $5.72 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. Chubb’s payout ratio is presently 16.19%.

Chubb Company 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.