Hanson & Doremus Investment Management Boosts Stock Position in Chubb Limited (NYSE:CB)

Hanson & Doremus Investment Management lifted its stake in Chubb Limited (NYSE:CB) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,357 shares of the financial services provider’s stock after acquiring an additional 841 shares during the period. Hanson & Doremus Investment Management’s holdings in Chubb were worth $3,152,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CB. Capital World Investors increased its holdings in 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 acquiring an additional 685,677 shares during the period. Capital Research Global Investors grew 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 valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Norges Bank purchased a new position in shares of Chubb during the 4th quarter valued at $957,756,000. Lazard Asset Management LLC increased its holdings in shares of Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. Finally, Raymond James & Associates raised its position in shares of Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after buying an additional 87,059 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CB shares. JMP Securities boosted their target price on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. 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 report on Thursday, July 25th. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Bank of America boosted their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Chubb has a consensus rating of “Hold” and an average target price of $274.70.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,836 shares of company stock valued at $27,055,900. Company insiders own 0.86% of the company’s stock.

Chubb Stock Up 0.4 %

Shares of Chubb stock opened at $288.87 on Friday. The stock has a market capitalization of $116.68 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 5.59 and a beta of 0.66. Chubb Limited has a 52-week low of $204.15 and a 52-week high of $294.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The company’s 50 day moving average price is $272.40 and its 200-day moving average price is $261.97.

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

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.26%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

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.