Connors Investor Services Inc. Acquires 705 Shares of Chubb Limited (NYSE:CB)

Connors Investor Services Inc. grew its holdings in Chubb Limited (NYSE:CB) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,863 shares of the financial services provider’s stock after buying an additional 705 shares during the quarter. Chubb makes up 1.8% of Connors Investor Services Inc.’s portfolio, making the stock its 14th largest position. Connors Investor Services Inc.’s holdings in Chubb were worth $17,055,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in Chubb in the second quarter valued at about $963,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chubb by 16.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after buying an additional 10,745 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Chubb during the first quarter worth approximately $984,000. Sierra Summit Advisors LLC acquired a new position in Chubb in the fourth quarter valued at approximately $844,000. Finally, Leuthold Group LLC bought a new position in Chubb in the first quarter valued at approximately $3,033,000. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $291.32 on Tuesday. Chubb Limited has a 12 month low of $204.15 and a 12 month high of $294.18. The company’s fifty day simple moving average is $273.16 and its 200-day simple moving average is $262.30. The firm has a market cap of $118.29 billion, a PE ratio of 12.93, a P/E/G ratio of 5.59 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.92 EPS. Equities research analysts expect that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio is 16.16%.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The disclosure for this sale can be found here. Insiders have sold 94,836 shares of company stock valued at $27,055,900 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CB. Royal Bank of Canada upped their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Bank of America raised their target price on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target for the company. Finally, Roth Mkm lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $274.70.

About Chubb

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.