Chubb Limited (NYSE:CB) Shares Purchased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC raised its stake in Chubb Limited (NYSE:CB) by 2,300.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,710 shares of the financial services provider’s stock after purchasing an additional 85,015 shares during the period. Chubb comprises 1.1% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 23rd biggest position. Chesley Taft & Associates LLC’s holdings in Chubb were worth $22,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CB. Norges Bank purchased a new position in Chubb in the fourth quarter valued at $957,756,000. Capital Research Global Investors raised 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 acquiring an additional 2,064,730 shares in the last quarter. Capital World Investors lifted its stake 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 purchasing an additional 685,677 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Chubb in the first quarter valued at approximately $165,932,000. Finally, Bank of Nova Scotia increased its stake in Chubb by 198.8% in the fourth 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 last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several research analyst reports. Bank of America upped their target price on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Royal Bank of Canada boosted their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley lowered their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average target price of $270.79.

Insider Activity

In other news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of CB traded up $0.77 during mid-day trading on Friday, hitting $273.41. The company’s stock had a trading volume of 1,077,087 shares, compared to its average volume of 1,639,168. The company has a current ratio of 0.31, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $198.10 and a 1-year high of $277.91. The firm has a market capitalization of $111.02 billion, a P/E ratio of 12.14, a P/E/G ratio of 5.21 and a beta of 0.66. The firm has a 50-day simple moving average of $263.72 and a 200 day simple moving average of $257.48.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.92 EPS. Analysts predict that Chubb Limited will post 21.15 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.33%. Chubb’s dividend payout ratio (DPR) is presently 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.