Cornerstone Wealth Management LLC Purchases 1,200 Shares of Chubb Limited (NYSE:CB)

Cornerstone Wealth Management LLC lifted its position in shares of Chubb Limited (NYSE:CB) by 42.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,004 shares of the financial services provider’s stock after purchasing an additional 1,200 shares during the period. Cornerstone Wealth Management LLC’s holdings in Chubb were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors increased its stake in Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the period. Lazard Asset Management LLC raised its holdings in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after acquiring an additional 457,881 shares in the last quarter. Troy Asset Management Ltd bought a new stake in shares of Chubb during the 2nd quarter valued at $106,975,000. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Chubb during the 2nd quarter worth $93,411,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Up 3.0 %

NYSE CB opened at $301.90 on Friday. The firm has a market capitalization of $122.59 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. The business’s 50-day moving average price is $284.16 and its two-hundred day moving average price is $267.61. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $205.64 and a 12 month high of $302.05.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. During the same period in the prior year, the business posted $4.92 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, analysts expect that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.21%. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CB. Royal Bank of Canada boosted their price target on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley dropped their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Barclays initiated coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective for the company. Finally, Roth Mkm raised their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and an average price target of $282.37.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Chubb Company 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.