LRI Investments LLC Takes $345,000 Position in Chubb Limited (NYSE:CB)

LRI Investments LLC purchased a new stake in shares of Chubb Limited (NYSE:CB) in the first quarter, according to its most recent filing with the SEC. The firm purchased 1,357 shares of the financial services provider’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital World Investors raised its position in shares of Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Capital Research Global Investors raised its position in shares of Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. Norges Bank acquired a new position in shares of Chubb during the 4th quarter worth approximately $957,756,000. Ontario Teachers Pension Plan Board raised its position in shares of Chubb by 0.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock worth $609,880,000 after purchasing an additional 24,323 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Chubb by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,484 shares of the financial services provider’s stock worth $512,225,000 after purchasing an additional 45,318 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CB shares. Keefe, Bruyette & Woods cut their price target on Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Roth Mkm boosted their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. JMP Securities boosted their price target on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective 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. 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 company. According to data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $270.05.

Insider Transactions at Chubb

In related news, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction 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 available through this hyperlink. In related news, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the sale, the chief accounting officer now directly owns 7,718 shares in the company, valued at approximately $2,036,085.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction that occurred 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 owns 39,295 shares in the company, valued at $10,597,861.50. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock valued at $12,149,985 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Chubb Trading Up 3.2 %

Shares of CB traded up $8.45 on Friday, reaching $270.06. 1,653,253 shares of the company’s stock were exchanged, compared to its average volume of 1,399,890. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $109.66 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 5.04 and a beta of 0.66. The business has a 50 day moving average price of $262.03 and a two-hundred day moving average price of $253.61. Chubb Limited has a 12 month low of $198.10 and a 12 month high of $275.41.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the firm posted $4.92 earnings per share. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts anticipate that Chubb Limited will post 21.03 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were given a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.35%. Chubb’s dividend payout ratio is currently 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.