7,605 Shares in Chubb Limited (NYSE:CB) Acquired by Norden Group LLC

Norden Group LLC bought a new stake in Chubb Limited (NYSE:CB) in the first quarter, Holdings Channel reports. The institutional investor bought 7,605 shares of the financial services provider’s stock, valued at approximately $1,971,000.

Other hedge funds also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC purchased a new position in Chubb during the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb in the fourth quarter worth $29,000. Tennessee Valley Asset Management Partners purchased a new position in Chubb in the 4th quarter valued at about $32,000. Northwest Financial Advisors purchased a new position in shares of Chubb during the fourth quarter valued at approximately $33,000. Finally, Naples Money Management LLC acquired a new stake in shares of Chubb during the fourth quarter worth $34,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CB has been the topic of several research analyst reports. StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 target price on shares of Chubb in a research report on Wednesday, April 24th. JMP Securities reaffirmed a “market outperform” rating and set a $280.00 price target on shares of Chubb in a report on Monday, April 15th. Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $244.00 to $266.00 in a research note on Thursday, May 23rd. Finally, Morgan Stanley boosted their target price on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $266.70.

Chubb Stock Performance

Shares of NYSE CB opened at $254.08 on Friday. The stock has a 50 day simple moving average of $259.69 and a 200-day simple moving average of $249.31. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a market cap of $103.17 billion, a PE ratio of 11.28, a P/E/G ratio of 6.17 and a beta of 0.66. Chubb Limited has a 12-month low of $186.52 and a 12-month high of $275.41.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the business earned $4.41 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.43%. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is currently 16.16%.

Insider Activity

In other news, Director Michael G. Atieh sold 716 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the sale, the director now directly owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the transaction, the director now directly owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,552 shares of company stock worth $12,149,985. Insiders own 0.86% of the company’s stock.

Chubb Company Profile

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.