Cibc World Market Inc. Buys 42,100 Shares of Chubb Limited $CB

Cibc World Market Inc. increased its stake in shares of Chubb Limited (NYSE:CB) by 418.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,171 shares of the financial services provider’s stock after acquiring an additional 42,100 shares during the quarter. Cibc World Market Inc.’s holdings in Chubb were worth $14,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC raised its holdings in Chubb by 0.5% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock valued at $2,083,000 after buying an additional 35 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Chubb by 7.4% during the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 36 shares during the last quarter. Covestor Ltd raised its stake in shares of Chubb by 26.1% during the third quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 37 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Chubb by 2.3% during the second quarter. Evermay Wealth Management LLC now owns 1,684 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 38 shares during the period. Finally, JT Stratford LLC grew its stake in shares of Chubb by 3.5% in the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 1.0%

NYSE:CB opened at $332.42 on Friday. The company’s 50-day simple moving average is $310.12 and its 200 day simple moving average is $290.65. Chubb Limited has a one year low of $263.14 and a one year high of $335.60. The firm has a market capitalization of $130.82 billion, a P/E ratio of 12.92, a PEG ratio of 2.10 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.24 and a quick ratio of 0.27.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.02 EPS. As a group, analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 54,307 shares of company stock worth $17,611,016. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CB. Bank of America lowered their price target on Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research report on Friday, January 16th. Keefe, Bruyette & Woods raised their price target on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Citizens Jmp reiterated a “market outperform” rating and issued a $350.00 price target on shares of Chubb in a report on Wednesday, February 4th. Jefferies Financial Group upped their price objective on shares of Chubb from $326.00 to $333.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Finally, HSBC lifted their target price on shares of Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $340.09.

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.