Bridges Investment Management Inc. Boosts Stock Position in Chubb Limited $CB

Bridges Investment Management Inc. increased its stake in shares of Chubb Limited (NYSE:CB) by 41.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,383 shares of the financial services provider’s stock after buying an additional 1,862 shares during the quarter. Bridges Investment Management Inc.’s holdings in Chubb were worth $1,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its position in Chubb by 93.6% during the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Chubb by 155.6% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Chubb during the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Chubb during the 3rd quarter valued at approximately $34,000. Finally, Financial Consulate Inc. acquired a new position in Chubb in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Trading Up 0.6%

NYSE CB opened at $311.49 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $122.59 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.99 and a beta of 0.49. The firm has a 50 day simple moving average of $305.10 and a 200-day simple moving average of $287.83. Chubb Limited has a one year low of $263.14 and a one year high of $316.94.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is currently 16.19%.

Insider Activity

In related news, insider John J. Lupica sold 16,375 shares of Chubb stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the completion of the transaction, the insider directly owned 74,225 shares in the company, valued at approximately $22,004,001.25. This trade represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 850 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the transaction, the executive vice president directly owned 1,585 shares of the company’s stock, valued at $467,876.15. The trade was a 34.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 33,635 shares of company stock worth $9,970,735. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research note on Monday, November 24th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $354.00 price objective for the company in a research report on Friday, January 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $346.00 target price on shares of Chubb in a research report on Wednesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chubb presently has a consensus rating of “Moderate Buy” and an average price target of $324.00.

Chubb Company Profile

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.