Larson Financial Group LLC Makes New Investment in Chubb Ltd (NYSE:CB)

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Larson Financial Group LLC bought a new position in Chubb Ltd (NYSE:CB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 164 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently modified their holdings of CB. Nuveen Asset Management LLC increased its position in Chubb by 37,306.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,848,945 shares of the financial services provider’s stock worth $714,201,000 after purchasing an additional 4,835,982 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Chubb by 84.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,848,447 shares of the financial services provider’s stock worth $419,548,000 after purchasing an additional 1,304,154 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Chubb by 24.1% during the 2nd quarter. California Public Employees Retirement System now owns 3,347,877 shares of the financial services provider’s stock valued at $493,109,000 after acquiring an additional 650,643 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Chubb by 3.5% during the 2nd quarter. WCM Investment Management LLC now owns 14,532,774 shares of the financial services provider’s stock valued at $2,140,532,000 after acquiring an additional 493,424 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its holdings in shares of Chubb by 15,106.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 397,798 shares of the financial services provider’s stock valued at $39,780,000 after acquiring an additional 395,182 shares during the last quarter. 89.44% of the stock is currently owned by institutional investors.

In related news, insider Paul Bennett Medini sold 2,125 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $153.72, for a total transaction of $326,655.00. Following the completion of the sale, the insider now owns 89,534 shares in the company, valued at approximately $13,763,166.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 6,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $158.05, for a total value of $1,027,325.00. Following the sale, the executive vice president now owns 77,201 shares of the company’s stock, valued at approximately $12,201,618.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,625 shares of company stock valued at $4,037,880. 0.47% of the stock is owned by corporate insiders.

A number of brokerages have recently commented on CB. Atlantic Securities lowered Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price objective on the stock. in a report on Thursday, June 20th. UBS Group increased their price objective on Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Raymond James reissued a “strong-buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Chubb in a report on Friday, July 5th. Morgan Stanley increased their price objective on Chubb from $154.00 to $163.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Co increased their price objective on Chubb from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $153.91.

Shares of NYSE CB opened at $155.10 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $71.46 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.51 and a beta of 0.70. The business’s 50-day simple moving average is $158.29 and its 200-day simple moving average is $149.65. Chubb Ltd has a 52 week low of $119.54 and a 52 week high of $162.44.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the company earned $2.68 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Chubb Ltd will post 10.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, September 19th. This represents a $3.00 annualized dividend and a yield of 1.93%. Chubb’s payout ratio is 31.78%.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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