Perigon Wealth Management LLC Increases Position in Chubb Limited $CB

Perigon Wealth Management LLC boosted its holdings in shares of Chubb Limited (NYSE:CB) by 32.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,809 shares of the financial services provider’s stock after purchasing an additional 2,880 shares during the quarter. Perigon Wealth Management LLC’s holdings in Chubb were worth $3,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mayflower Financial Advisors LLC grew its stake in Chubb by 8.1% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 2,428 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 182 shares during the period. NovaPoint Capital LLC lifted its holdings in Chubb by 7.8% during the third quarter. NovaPoint Capital LLC now owns 20,032 shares of the financial services provider’s stock valued at $5,654,000 after purchasing an additional 1,443 shares in the last quarter. FSM Wealth Advisors LLC grew its position in shares of Chubb by 7.3% in the third quarter. FSM Wealth Advisors LLC now owns 2,926 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 200 shares during the period. Apella Capital LLC increased its stake in shares of Chubb by 15.3% during the third quarter. Apella Capital LLC now owns 911 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 121 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of Chubb by 1.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 22,148 shares of the financial services provider’s stock worth $6,251,000 after purchasing an additional 406 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CB. Deutsche Bank Aktiengesellschaft lifted their price objective on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Bank of America lifted their price target on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research note on Monday, October 13th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b+)” rating on shares of Chubb in a report on Monday, December 22nd. Finally, Morgan Stanley set a $310.00 target price on shares of Chubb in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $311.90.

Chubb Stock Performance

NYSE CB opened at $314.27 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The stock’s fifty day moving average is $295.39 and its two-hundred day moving average is $283.69. The firm has a market capitalization of $123.68 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 3.58 and a beta of 0.51. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $315.08.

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

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 23,698 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 57,333 shares of company stock worth $16,629,873. Insiders own 0.86% of the company’s stock.

About Chubb

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.