Cim Investment Management Inc. Acquires 3,413 Shares of Chubb Limited $CB

Cim Investment Management Inc. increased its holdings in shares of Chubb Limited (NYSE:CB) by 101.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,773 shares of the financial services provider’s stock after purchasing an additional 3,413 shares during the period. Cim Investment Management Inc.’s holdings in Chubb were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Andra AP fonden boosted its holdings in Chubb by 25.4% in the 2nd quarter. Andra AP fonden now owns 77,803 shares of the financial services provider’s stock worth $26,511,000 after acquiring an additional 15,760 shares during the period. Silicon Valley Capital Partners raised its stake in shares of Chubb by 251.7% during the second quarter. Silicon Valley Capital Partners now owns 102 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 73 shares during the period. Security National Bank of SO Dak acquired a new position in shares of Chubb during the second quarter worth $46,000. Anchor Investment Management LLC lifted its position in shares of Chubb by 1,702.5% during the second quarter. Anchor Investment Management LLC now owns 4,957 shares of the financial services provider’s stock worth $1,689,000 after purchasing an additional 4,682 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its stake in shares of Chubb by 3.2% in the second quarter. Cidel Asset Management Inc. now owns 2,368 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 74 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB stock traded up $0.57 on Tuesday, hitting $331.94. 1,211,187 shares of the stock traded hands, compared to its average volume of 1,728,319. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $128.06 billion, a PE ratio of 11.74, a PEG ratio of 1.59 and a beta of 0.37. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company’s fifty day moving average is $344.28 and its 200 day moving average is $335.07.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the company posted $6.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given 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 (DPR) is presently 14.43%.

Analysts Set New Price Targets

CB has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, September 11th. Atlantic Securities set a $301.00 price objective on shares of Chubb in a report on Wednesday, July 15th. Mizuho decreased their price objective on shares of Chubb from $352.00 to $347.00 and set a “neutral” rating for the company in a research report on Wednesday, September 16th. UBS Group raised their target price on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $360.77.

Insider Activity

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated 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 sale, the director owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Company Profile

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.