Rockport Wealth LLC Acquires Shares of 1,642 Chubb Limited (NYSE:CB)

Rockport Wealth LLC acquired a new stake in Chubb Limited (NYSE:CB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,642 shares of the financial services provider’s stock, valued at approximately $425,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd increased its position in Chubb by 155.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after acquiring an additional 324,019 shares in the last quarter. ING Groep NV boosted its stake in shares of Chubb by 175,378.1% in the 4th quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock valued at $25,381,000 after purchasing an additional 112,242 shares during the last quarter. Graypoint LLC boosted its stake in shares of Chubb by 1,275.7% in the 4th quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock valued at $7,141,000 after purchasing an additional 29,302 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Chubb in the 4th quarter valued at about $263,000. Finally, Van Leeuwen & Company LLC boosted its stake in shares of Chubb by 602.7% in the 4th quarter. Van Leeuwen & Company LLC now owns 7,941 shares of the financial services provider’s stock valued at $1,795,000 after purchasing an additional 6,811 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Chubb in a research note on Friday, June 28th. Evercore ISI raised their target price on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. StockNews.com lowered shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group raised their target price on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Bank of America raised shares of Chubb from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $267.65.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,552 shares of company stock worth $12,149,985. Insiders own 0.86% of the company’s stock.

Chubb Stock Up 0.5 %

CB stock traded up $1.24 during mid-day trading on Tuesday, hitting $263.25. 1,292,938 shares of the company were exchanged, compared to its average volume of 1,650,692. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $106.90 billion, a P/E ratio of 11.62, a P/E/G ratio of 6.09 and a beta of 0.66. The firm’s 50 day simple moving average is $261.84 and its 200 day simple moving average is $252.75. Chubb Limited has a 1-year low of $195.36 and a 1-year high of $275.41.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $4.41 EPS. On average, sell-side analysts predict that Chubb Limited will post 20.93 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.38%. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, June 14th. Chubb’s payout ratio is presently 16.16%.

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.