Cornerstone Advisors LLC Invests $6.81 Million in Chubb Limited $CB

Cornerstone Advisors LLC purchased a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,992 shares of the financial services provider’s stock, valued at approximately $6,812,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CB. IMG Wealth Management Inc. purchased a new stake in Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Chubb in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb in the first quarter worth approximately $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup reissued a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and raised their price target for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $360.09.

Chubb Stock Performance

Shares of Chubb stock opened at $341.24 on Tuesday. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a market cap of $131.65 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.70 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50 day moving average price is $344.69 and its 200 day moving average price is $332.47.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the prior year, the business earned $6.14 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts predict that Chubb Limited will post 27.45 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

About Chubb

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.