Platform Technology Partners Acquires 66 Shares of Chubb Limited (NYSE:CB)

Platform Technology Partners raised its holdings in shares of Chubb Limited (NYSE:CB) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,598 shares of the financial services provider’s stock after purchasing an additional 66 shares during the period. Platform Technology Partners’ holdings in Chubb were worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CB. Price T Rowe Associates Inc. MD boosted its holdings in Chubb by 17.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock valued at $5,596,629,000 after acquiring an additional 4,210,564 shares in the last quarter. FMR LLC boosted its stake in shares of Chubb by 21.8% during the 1st quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock valued at $2,739,488,000 after purchasing an additional 2,528,499 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Chubb by 102,751.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after buying an additional 8,281,754 shares during the period. Geode Capital Management LLC raised its stake in Chubb by 0.8% in the first quarter. Geode Capital Management LLC now owns 7,833,334 shares of the financial services provider’s stock worth $1,517,747,000 after buying an additional 60,630 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Chubb by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,786,479 shares of the financial services provider’s stock worth $1,276,497,000 after buying an additional 65,270 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CB. JMP Securities reiterated a “market outperform” rating and set a $250.00 target price on shares of Chubb in a report on Wednesday, July 26th. BMO Capital Markets increased their price objective on Chubb from $200.00 to $210.00 in a report on Thursday, July 27th. Morgan Stanley boosted their target price on shares of Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Citigroup increased their price target on shares of Chubb from $229.00 to $235.00 in a research note on Thursday, July 27th. Finally, StockNews.com started coverage on shares of Chubb in a research report on Thursday, August 17th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and an average price target of $242.79.

Chubb Stock Up 0.8 %

CB traded up $1.69 during trading on Monday, hitting $213.89. 409,993 shares of the company’s stock traded hands, compared to its average volume of 1,789,301. The stock has a market capitalization of $87.85 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.15 and a beta of 0.65. The company’s 50 day simple moving average is $200.96 and its two-hundred day simple moving average is $197.36. Chubb Limited has a 12-month low of $173.78 and a 12-month high of $231.37. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26.

Chubb (NYSE:CB) last announced 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 return on equity of 13.56% and a net margin of 12.47%. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $11.24 billion. During the same period in the prior year, the company posted $4.20 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts predict that Chubb Limited will post 18.18 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.44 annualized dividend and a dividend yield of 1.61%. Chubb’s payout ratio is 24.71%.

Chubb declared that its board has authorized a share buyback plan on Monday, June 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 1,187 shares of Chubb stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $211.81, for a total value of $251,418.47. Following the completion of the sale, the chief accounting officer now owns 13,234 shares of the company’s stock, valued at approximately $2,803,093.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Chubb news, insider John J. Lupica sold 8,398 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $211.74, for a total transaction of $1,778,192.52. Following the completion of the sale, the insider now directly owns 154,049 shares of the company’s stock, valued at $32,618,335.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Annmarie T. Hagan sold 1,187 shares of Chubb stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $211.81, for a total transaction of $251,418.47. Following the transaction, the chief accounting officer now owns 13,234 shares in the company, valued at approximately $2,803,093.54. The disclosure for this sale can be found here. Insiders have sold a total of 22,534 shares of company stock worth $4,645,275 over the last quarter. Company insiders own 0.37% of the company’s stock.

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.