Chubb Limited (NYSE:CB) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. lifted its position in shares of Chubb Limited (NYSE:CB) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,988 shares of the financial services provider’s stock after buying an additional 154 shares during the quarter. Griffin Asset Management Inc.’s holdings in Chubb were worth $2,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Chubb during the 4th quarter worth about $957,756,000. Confluence Investment Management LLC acquired a new stake in Chubb during the first quarter worth approximately $165,932,000. Bank of Nova Scotia grew its stake in Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after acquiring an additional 518,535 shares during the period. Lazard Asset Management LLC raised its holdings in Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after acquiring an additional 495,860 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Chubb by 19,454.2% during the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock worth $1,096,860,000 after purchasing an additional 482,854 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $11,648,059.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Juan Luis Ortega sold 2,400 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $11,648,059.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the transaction, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,552 shares of company stock worth $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB stock traded down $6.95 during trading hours on Friday, hitting $255.08. 2,794,049 shares of the stock traded hands, compared to its average volume of 1,375,378. 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 stock has a 50-day simple moving average of $259.30 and a 200 day simple moving average of $248.48. Chubb Limited has a one year low of $183.71 and a one year high of $275.41. The company has a market cap of $103.58 billion, a P/E ratio of 11.32, a P/E/G ratio of 6.29 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the business posted $4.41 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts forecast that Chubb Limited will post 21.15 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a $0.91 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CB. HSBC restated a “hold” rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Evercore ISI lifted their target price on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $285.00 price objective on shares of Chubb in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and an average target price of $266.70.

About Chubb

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.