Proficio Capital Partners LLC Boosts Stake in Chubb Limited $CB

Proficio Capital Partners LLC grew its holdings in Chubb Limited (NYSE:CB) by 301.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,919 shares of the financial services provider’s stock after purchasing an additional 3,695 shares during the period. Proficio Capital Partners LLC’s holdings in Chubb were worth $1,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CB. IMG Wealth Management Inc. acquired a new position in Chubb in the second quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $25,000. Parvin Asset Management LLC purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 49 shares during the last quarter. Finally, Frazier Financial Advisors LLC lifted its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.2%

CB stock opened at $339.30 on Tuesday. The company’s 50 day moving average price is $347.74 and its 200 day moving average price is $334.12. The firm has a market capitalization of $130.90 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.66 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the business posted $6.14 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Analyst Ratings Changes

CB has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Atlantic Securities set a $301.00 price target on Chubb in a research note on Wednesday, July 15th. UBS Group raised their price target on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Morgan Stanley lifted their price objective on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Finally, Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $361.00.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.