Heron Bay Capital Management Purchases Shares of 1,545 Chubb Limited $CB

Heron Bay Capital Management acquired a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,545 shares of the financial services provider’s stock, valued at approximately $526,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Janney Montgomery Scott LLC increased its position in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after purchasing an additional 5,225 shares in the last quarter. National Pension Service lifted its position in Chubb by 24.4% during the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock valued at $358,462,000 after buying an additional 225,515 shares in the last quarter. Harbour Investments Inc. grew its stake in Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after buying an additional 8,947 shares during the period. Bessemer Group Inc. grew its stake in Chubb by 16.8% during the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock worth $5,424,000 after buying an additional 2,389 shares during the period. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Chubb in the fourth quarter worth $3,486,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and increased their price target for the company from $370.00 to $373.00 in a report on Monday, July 6th. Piper Sandler raised their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $361.00.

Chubb Price Performance

Shares of CB stock opened at $341.15 on Friday. The firm has a fifty day simple moving average of $345.88 and a 200-day simple moving average of $333.31. The company has a market capitalization of $131.62 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (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 firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the firm posted $6.14 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

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.