Chubb Limited (NYSE:CB) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Chubb Limited (NYSE:CB) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,651 shares of the financial services provider’s stock after purchasing an additional 667 shares during the quarter. Van ECK Associates Corp’s holdings in Chubb were worth $3,227,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CB. Norges Bank acquired a new stake in shares of Chubb during the fourth quarter worth $957,756,000. Capital Research Global Investors lifted its holdings in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors lifted its holdings in shares of 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 purchasing an additional 685,677 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Chubb during the first quarter worth $165,932,000. Finally, Bank of Nova Scotia lifted its holdings in shares of Chubb by 198.8% during the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. JMP Securities increased their price objective on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Barclays initiated coverage on Chubb in a research report on Wednesday. They issued an “overweight” rating and a $349.00 price objective for the company. Roth Mkm increased their price objective on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley cut their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $274.70.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,382 shares of company stock valued at $7,609,745. Insiders own 0.86% of the company’s stock.

Chubb Trading Down 1.3 %

Chubb stock opened at $287.19 on Friday. The stock has a market cap of $116.62 billion, a PE ratio of 12.75, a P/E/G ratio of 5.59 and a beta of 0.66. The stock has a 50-day moving average price of $268.26 and a 200 day moving average price of $260.44. Chubb Limited has a 52 week low of $198.67 and a 52 week high of $293.13. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the business posted $4.92 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared 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. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s payout ratio is 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.