Ieq Capital LLC Buys 1,762 Shares of Chubb Limited (NYSE:CB)

Ieq Capital LLC increased its stake in shares of Chubb Limited (NYSE:CB) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,054 shares of the financial services provider’s stock after buying an additional 1,762 shares during the quarter. Ieq Capital LLC’s holdings in Chubb were worth $8,941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. Capital World Investors lifted its holdings in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the period. Confluence Investment Management LLC purchased a new position in Chubb in the first quarter worth $165,932,000. Bank of Nova Scotia grew its stake in Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after purchasing an additional 518,535 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after purchasing an additional 457,881 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CB. Royal Bank of Canada increased their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America raised their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley dropped their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays started coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $274.70.

Insider Buying and Selling at Chubb

In other news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $290.58 on Friday. The company has a 50 day moving average of $275.22 and a 200 day moving average of $262.97. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market cap of $117.99 billion, a P/E ratio of 12.90, a P/E/G ratio of 5.59 and a beta of 0.66. Chubb Limited has a 12 month low of $204.15 and a 12 month high of $294.18.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same period in the previous year, the business earned $4.92 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio is currently 16.16%.

About Chubb

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.