Summit Financial LLC Purchases 5,147 Shares of Chubb Limited (NYSE:CB)

Summit Financial LLC raised its position in shares of Chubb Limited (NYSE:CB) by 58.1% in the second quarter, Holdings Channel reports. The fund owned 14,012 shares of the financial services provider’s stock after buying an additional 5,147 shares during the quarter. Summit Financial LLC’s holdings in Chubb were worth $3,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in CB. Beacon Capital Management LLC boosted its stake in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Chubb in the first quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chubb in the 4th quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC increased its position in shares of Chubb by 82.2% during the first quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 60 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Up 0.8 %

NYSE CB traded up $2.20 on Friday, reaching $284.18. The company had a trading volume of 2,343,571 shares, compared to its average volume of 1,301,265. The stock has a market cap of $114.79 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 5.59 and a beta of 0.66. The stock’s 50 day moving average is $266.31 and its 200-day moving average is $259.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $198.67 and a 52 week high of $284.49.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.92 earnings per share. Equities analysts predict that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s payout ratio is presently 16.16%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America raised their target price on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. JMP Securities lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley lowered their target price on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average target price of $270.79.

Insiders Place Their Bets

In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,521 shares of company stock worth $3,878,712. Corporate insiders own 0.86% of the company’s stock.

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.