Patrick M Sweeney & Associates Inc. Makes New $379,000 Investment in Chubb Limited (NYSE:CB)

Patrick M Sweeney & Associates Inc. bought a new position in shares of Chubb Limited (NYSE:CB) in the 4th quarter, Holdings Channel reports. The fund bought 1,678 shares of the financial services provider’s stock, valued at approximately $379,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Everhart Financial Group Inc. lifted its position in Chubb by 15.3% during the 3rd quarter. Everhart Financial Group Inc. now owns 1,290 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Chubb by 4.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 149,322 shares of the financial services provider’s stock worth $31,086,000 after purchasing an additional 6,152 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Chubb by 1.2% during the third quarter. Mackenzie Financial Corp now owns 74,041 shares of the financial services provider’s stock worth $15,172,000 after purchasing an additional 906 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its position in Chubb by 17.9% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,685 shares of the financial services provider’s stock valued at $351,000 after buying an additional 256 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its stake in Chubb by 81.7% in the 3rd quarter. Calamos Wealth Management LLC now owns 48,733 shares of the financial services provider’s stock valued at $10,145,000 after buying an additional 21,909 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 34,464 shares of Chubb stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the sale, the insider now directly owns 130,937 shares in the company, valued at $33,902,208.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the transaction, the executive vice president now owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,863 shares of company stock worth $28,007,307. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CB. Keefe, Bruyette & Woods reduced their target price on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday. Wells Fargo & Company lifted their price objective on Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. TD Cowen assumed coverage on Chubb in a research note on Wednesday, January 10th. They set a “market perform” rating and a $254.00 target price for the company. The Goldman Sachs Group raised their price target on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Raymond James upped their price objective on Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.74.

Chubb Price Performance

NYSE CB traded down $0.32 during trading hours on Wednesday, reaching $251.63. The company’s stock had a trading volume of 1,398,939 shares, compared to its average volume of 1,722,615. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The company’s 50-day moving average is $251.85 and its two-hundred day moving average is $237.76. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $260.58. The stock has a market cap of $102.18 billion, a PE ratio of 11.17, a PEG ratio of 1.17 and a beta of 0.63.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the prior year, the firm earned $4.41 EPS. Chubb’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts forecast that Chubb Limited will post 21.18 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, March 14th. Chubb’s payout ratio is 15.27%.

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.