Zurich Insurance Group Ltd FI boosted its position in Chubb Ltd (NYSE:CB) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,787 shares of the financial services provider’s stock after acquiring an additional 2,934 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Chubb were worth $15,729,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. JNBA Financial Advisors lifted its stake in Chubb by 223.2% in the second quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after buying an additional 125 shares during the period. Mcmillion Capital Management Inc. acquired a new stake in shares of Chubb during the second quarter worth about $27,000. Meridian Wealth Management LLC acquired a new stake in shares of Chubb during the second quarter worth about $28,000. Ascent Wealth Partners LLC acquired a new stake in shares of Chubb during the first quarter worth about $28,000. Finally, MRA Associates USA LLC acquired a new stake in shares of Chubb during the second quarter worth about $33,000. Institutional investors and hedge funds own 89.51% of the company’s stock.
Chubb stock traded down $0.10 during midday trading on Friday, reaching $158.40. The stock had a trading volume of 61,254 shares, compared to its average volume of 1,338,512. The firm’s fifty day simple moving average is $156.45 and its 200-day simple moving average is $146.98. Chubb Ltd has a 1-year low of $119.54 and a 1-year high of $162.19. The stock has a market capitalization of $72.24 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 0.32.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.75 dividend. The ex-dividend date is Thursday, September 19th. This represents a $3.00 dividend on an annualized basis and a yield of 1.89%. Chubb’s dividend payout ratio is 31.78%.
In other news, insider Paul J. Krump sold 5,000 shares of Chubb stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $155.00, for a total transaction of $775,000.00. Following the completion of the transaction, the insider now directly owns 118,865 shares in the company, valued at approximately $18,424,075. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 6,000 shares of Chubb stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $158.15, for a total value of $948,900.00. Following the transaction, the insider now owns 168,037 shares of the company’s stock, valued at $26,575,051.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,125 shares of company stock valued at $3,010,555. Corporate insiders own 0.47% of the company’s stock.
CB has been the topic of a number of research analyst reports. Raymond James reaffirmed a “strong-buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Chubb in a research report on Friday, July 5th. Atlantic Securities lowered Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a research report on Thursday, June 20th. Morgan Stanley raised their price target on Chubb from $154.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. UBS Group raised their price target on Chubb from $156.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Compass Point lowered Chubb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $153.00.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional 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 in the United States, Canada, and Bermuda.
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