Abner Herrman & Brock LLC Grows Holdings in Chubb Limited (NYSE:CB)

Abner Herrman & Brock LLC lifted its position in shares of Chubb Limited (NYSE:CB) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,223 shares of the financial services provider’s stock after buying an additional 942 shares during the quarter. Chubb makes up 2.1% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 25th largest position. Abner Herrman & Brock LLC’s holdings in Chubb were worth $14,292,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its stake in Chubb by 10.1% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 555 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 51 shares during the period. Procyon Advisors LLC raised its position in Chubb by 5.0% during the first quarter. Procyon Advisors LLC now owns 1,130 shares of the financial services provider’s stock valued at $220,000 after buying an additional 54 shares during the period. Zions Bancorporation N.A. boosted its position in Chubb by 4.9% during the 1st quarter. Zions Bancorporation N.A. now owns 1,168 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 55 shares during the period. Mission Wealth Management LP grew its stake in Chubb by 0.5% during the 1st quarter. Mission Wealth Management LP now owns 10,614 shares of the financial services provider’s stock valued at $2,061,000 after acquiring an additional 55 shares in the last quarter. Finally, Goldstein Advisors LLC increased its holdings in shares of Chubb by 2.4% in the 1st quarter. Goldstein Advisors LLC now owns 2,343 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 10,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total value of $2,010,100.00. Following the sale, the chief operating officer now directly owns 265,184 shares in the company, valued at $53,304,635.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chubb news, COO John W. Keogh sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $201.01, for a total value of $2,010,100.00. Following the transaction, the chief operating officer now directly owns 265,184 shares in the company, valued at $53,304,635.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John J. Lupica sold 8,398 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $211.74, for a total transaction of $1,778,192.52. Following the sale, the insider now directly owns 154,049 shares of the company’s stock, valued at approximately $32,618,335.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,534 shares of company stock valued at $4,645,275. 0.37% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

Shares of NYSE CB traded up $0.93 during trading hours on Thursday, hitting $210.80. 249,508 shares of the stock were exchanged, compared to its average volume of 1,775,986. Chubb Limited has a one year low of $173.78 and a one year high of $231.37. The company’s 50 day moving average is $199.77 and its 200 day moving average is $197.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $86.58 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.12 and a beta of 0.65.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.41 by $0.51. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The company had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $11.24 billion. During the same period in the prior year, the company earned $4.20 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Chubb Limited will post 18.18 EPS for the current year.

Chubb declared that its Board of Directors has initiated a stock repurchase plan on Monday, June 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 14th. Chubb’s dividend payout ratio is 24.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on CB shares. BMO Capital Markets boosted their price objective on shares of Chubb from $200.00 to $210.00 in a research report on Thursday, July 27th. StockNews.com assumed coverage on shares of Chubb in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Morgan Stanley lifted their price objective on Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Citigroup upped their target price on Chubb from $229.00 to $235.00 in a research report on Thursday, July 27th. Finally, Barclays lifted their price target on Chubb from $260.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $242.79.

Chubb Profile

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.