Harvest Fund Management Co. Ltd Buys 1,143 Shares of Chubb Limited (NYSE:CB)

Harvest Fund Management Co. Ltd lifted its stake in Chubb Limited (NYSE:CB) by 70.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,760 shares of the financial services provider’s stock after purchasing an additional 1,143 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Chubb were worth $796,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC boosted its stake in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Pathway Financial Advisers LLC bought a new stake in Chubb during the first quarter worth $25,000. Kozak & Associates Inc. bought a new stake in Chubb during the third quarter worth $29,000. Chilton Capital Management LLC bought a new stake in Chubb during the second quarter worth $26,000. Finally, Kimelman & Baird LLC bought a new stake in Chubb during the second quarter worth $32,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Up 0.4 %

Shares of NYSE:CB opened at $286.41 on Tuesday. The firm has a market cap of $115.45 billion, a P/E ratio of 11.73, a P/E/G ratio of 6.65 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $216.90 and a 12-month high of $302.05. The business has a fifty day simple moving average of $287.37 and a 200 day simple moving average of $274.81.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period 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 predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Analyst Upgrades and Downgrades

CB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler upped their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Evercore ISI upped their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities upped their price target on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $287.37.

Insider Transactions at Chubb

In other news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,715 shares of company stock valued at $23,803,540. Corporate insiders own 0.86% of the company’s stock.

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.