Pekin Hardy Strauss Inc. Acquires 151 Shares of Chubb Limited (NYSE:CB)

Pekin Hardy Strauss Inc. raised its stake in shares of Chubb Limited (NYSE:CB) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,982 shares of the financial services provider’s stock after buying an additional 151 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Chubb were worth $1,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after buying an additional 931,841 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Chubb by 4,559.3% in the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares during the last quarter. Troy Asset Management Ltd bought a new position in shares of Chubb in the second quarter worth about $106,975,000. Van Lanschot Kempen Investment Management N.V. bought a new position in shares of Chubb in the second quarter worth about $93,411,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Chubb by 349.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 463,300 shares of the financial services provider’s stock worth $118,179,000 after purchasing an additional 360,300 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $285.21 on Friday. The stock has a market capitalization of $114.97 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 6.65 and a beta of 0.67. The business’s fifty day moving average price is $287.46 and its two-hundred day moving average price is $274.42. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $4.95 EPS. As a group, analysts predict that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s payout ratio is 14.91%.

Analysts Set New Price Targets

CB has been the topic of several recent analyst reports. JMP Securities lifted their price target on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley upped their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $287.37.

Insider Activity

In related news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $160,341,094.40. This represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock valued at $23,803,540 in the last 90 days. 0.86% of the stock is owned by company insiders.

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.