Heritage Wealth Management Inc. Takes Position in Chubb Limited (NYSE:CB)

Heritage Wealth Management Inc. purchased a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,957 shares of the financial services provider’s stock, valued at approximately $3,524,000. Chubb makes up 1.2% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest position.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Chubb in the 1st quarter valued at $25,000. Beacon Capital Management LLC lifted its stake in shares of Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Chilton Capital Management LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $28,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb in the 4th quarter valued at $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CB has been the topic of several research reports. Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada increased their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley decreased their target price 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. Finally, Bank of America increased their target price on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $274.70.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,636 shares of company stock valued at $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Up 1.3 %

CB opened at $292.15 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50 day simple moving average of $279.68 and a 200-day simple moving average of $265.19. The stock has a market capitalization of $118.63 billion, a P/E ratio of 12.97, a P/E/G ratio of 5.74 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 posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $4.92 EPS. On average, equities analysts anticipate that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.25%. 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.