InTrack Investment Management Inc Buys 3,475 Shares of Chubb Limited $CB

InTrack Investment Management Inc lifted its stake in shares of Chubb Limited (NYSE:CB) by 155.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,712 shares of the financial services provider’s stock after purchasing an additional 3,475 shares during the quarter. InTrack Investment Management Inc’s holdings in Chubb were worth $1,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Modern Wealth Management LLC raised its holdings in shares of Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 143 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Chubb by 633.6% in the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after acquiring an additional 7,065 shares during the last quarter. Legato Capital Management LLC raised its holdings in shares of Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after acquiring an additional 5,582 shares during the last quarter. Davis Rea LTD. acquired a new stake in shares of Chubb in the 1st quarter worth about $5,117,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after acquiring an additional 1,375 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In other Chubb news, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CB has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Chubb from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wolfe Research upgraded shares of Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Jefferies Financial Group increased their price objective on shares of Chubb from $295.00 to $297.00 and gave the company a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $324.00 to $333.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley decreased their price objective on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $304.33.

Chubb Trading Down 0.7%

Shares of CB stock opened at $287.17 on Thursday. The company has a 50 day moving average of $276.00 and a 200-day moving average of $282.12. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market cap of $114.49 billion, a P/E ratio of 12.67, a PEG ratio of 3.26 and a beta of 0.54.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $5.38 EPS. Chubb’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

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