Baxter Bros Inc. Grows Stake in Chubb Limited (NYSE:CB)

Baxter Bros Inc. grew its holdings in Chubb Limited (NYSE:CB) by 255.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,071 shares of the financial services provider’s stock after buying an additional 5,081 shares during the quarter. Baxter Bros Inc.’s holdings in Chubb were worth $2,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CB. Private Advisor Group LLC lifted its holdings in Chubb by 9.2% in the 1st quarter. Private Advisor Group LLC now owns 10,603 shares of the financial services provider’s stock worth $2,747,000 after buying an additional 893 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Chubb in the 1st quarter valued at approximately $445,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after purchasing an additional 10,745 shares during the period. CNB Bank lifted its stake in shares of Chubb by 11.1% in the 1st quarter. CNB Bank now owns 492 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 49 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Chubb by 11.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 43,222 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 4,373 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI raised their target price on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Keefe, Bruyette & Woods lifted their price objective on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective on Chubb from $269.00 to $266.00 and set an “equal weight” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $287.26.

Chubb Stock Down 1.8 %

Chubb stock opened at $277.41 on Friday. The firm has a market cap of $112.11 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 5.86 and a beta of 0.66. The stock has a fifty day simple moving average of $288.23 and a two-hundred day simple moving average of $270.82. Chubb Limited has a 12 month low of $215.54 and a 12 month high of $302.05. The company has a current ratio of 0.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same quarter last year, the company earned $4.95 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s payout ratio is currently 14.91%.

Insider Buying and Selling

In related news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 over the last 90 days. Company insiders own 0.86% of the company’s stock.

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.