Independent Advisor Alliance Increases Position in Chubb Limited (NYSE:CB)

Independent Advisor Alliance lifted its stake in Chubb Limited (NYSE:CB) by 5.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 37,721 shares of the financial services provider’s stock after purchasing an additional 1,905 shares during the quarter. Independent Advisor Alliance’s holdings in Chubb were worth $10,878,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. ORG Partners LLC purchased a new stake in shares of Chubb during the 2nd quarter valued at $963,000. Moloney Securities Asset Management LLC grew its stake in shares of Chubb by 97.9% during the third quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 1,905 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Chubb by 21.2% during the second quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after acquiring an additional 2,250 shares in the last quarter. Raymond James & Associates raised its position in shares of Chubb by 2.9% in the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after purchasing an additional 87,059 shares during the last quarter. Finally, Savvy Advisors Inc. acquired a new stake in Chubb in the 3rd quarter worth approximately $721,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 4.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $11,261,558.28. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 over the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CB. Morgan Stanley upped their price target on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI lifted their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Two equities 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $287.37.

Chubb Price Performance

Chubb stock opened at $285.21 on Monday. The stock has a market capitalization of $114.97 billion, a P/E ratio of 11.68, a P/E/G ratio of 6.65 and a beta of 0.67. The company’s fifty day moving average price is $287.46 and its 200 day moving average price is $274.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.95 earnings per share. As a group, equities research analysts anticipate that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

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.