Kovitz Investment Group Partners LLC Raises Stake in Chubb Limited (NYSE:CB)

Kovitz Investment Group Partners LLC raised its stake in Chubb Limited (NYSE:CB) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,175 shares of the financial services provider’s stock after buying an additional 7,596 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Chubb were worth $15,338,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in Chubb in the 2nd quarter valued at $963,000. Moloney Securities Asset Management LLC grew its holdings in Chubb by 97.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock valued at $1,111,000 after buying an additional 1,905 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Chubb by 21.2% during the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after purchasing an additional 2,250 shares during the period. Savvy Advisors Inc. purchased a new position in shares of Chubb during the 3rd quarter worth $721,000. Finally, Raymond James & Associates grew its holdings in shares of Chubb by 2.9% during the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after purchasing an additional 87,059 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Barclays assumed coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Wells Fargo & Company increased their price target on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Bank of America increased their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $287.37.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB stock opened at $283.17 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $114.15 billion, a P/E ratio of 11.60, a P/E/G ratio of 6.66 and a beta of 0.67. The business’s 50-day moving average is $287.01 and its two-hundred day moving average is $276.20. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same quarter last year, the company earned $4.95 EPS. Chubb’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 21.82 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio (DPR) 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.