Princeton Global Asset Management LLC Has $5.63 Million Stake in Chubb Limited (NYSE:CB)

Princeton Global Asset Management LLC lifted its position in Chubb Limited (NYSE:CB) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,505 shares of the financial services provider’s stock after purchasing an additional 247 shares during the quarter. Chubb accounts for 1.1% of Princeton Global Asset Management LLC’s portfolio, making the stock its 25th largest position. Princeton Global Asset Management LLC’s holdings in Chubb were worth $5,625,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Capital World Investors raised its stake in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Capital Research Global Investors raised its stake in Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after acquiring an additional 63,891 shares in the last quarter. Legal & General Group Plc raised its stake in Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after acquiring an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after acquiring an additional 457,881 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on CB shares. Bank of America increased their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada increased their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, JMP Securities increased their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and a consensus price target of $287.26.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,636 shares of company stock worth $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $277.41 on Friday. The stock has a market cap of $112.11 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. The stock has a 50-day moving average of $288.23 and a 200-day moving average of $270.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.31. Chubb Limited has a one year low of $215.54 and a one year high of $302.05.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.95 earnings per share. As a group, sell-side analysts expect that Chubb Limited will post 21.42 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s payout ratio is presently 14.91%.

Chubb 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.