Ridgewood Investments LLC Purchases 1,984 Shares of Chubb Limited $CB

Ridgewood Investments LLC lifted its position in Chubb Limited (NYSE:CB) by 2,543.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,062 shares of the financial services provider’s stock after purchasing an additional 1,984 shares during the quarter. Ridgewood Investments LLC’s holdings in Chubb were worth $582,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Chubb by 0.6% in the second quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock worth $10,643,993,000 after buying an additional 210,053 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Chubb by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock valued at $2,541,771,000 after purchasing an additional 30,721 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. Norges Bank purchased a new position in Chubb in the 2nd quarter worth $1,195,137,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Chubb by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock worth $652,915,000 after purchasing an additional 18,820 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 23,698 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider owned 90,600 shares of the company’s stock, valued at approximately $25,458,600. This represents a 20.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 57,333 shares of company stock worth $16,629,873. Company insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America decreased their price objective on Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a report on Friday, January 16th. Evercore ISI restated an “outperform” rating and set a $346.00 price target on shares of Chubb in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $335.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Cantor Fitzgerald upped their price target on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $323.81.

Chubb Stock Performance

NYSE:CB opened at $300.70 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $303.83 and its 200 day simple moving average is $286.40. The stock has a market cap of $118.34 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 3.33 and a beta of 0.51. Chubb Limited has a twelve month low of $263.14 and a twelve month high of $316.94.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period last year, the company posted $5.72 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.