Inverness Counsel LLC NY Invests $17.08 Million in Chubb Ltd (CB) Stock

Inverness Counsel LLC NY purchased a new position in shares of Chubb Ltd (NYSE:CB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 127,796 shares of the financial services provider’s stock, valued at approximately $17,079,000.

A number of other hedge funds also recently modified their holdings of CB. Atlantic Trust LLC acquired a new stake in Chubb during the second quarter worth approximately $102,000. ELM Advisors LLC acquired a new stake in shares of Chubb in the third quarter valued at approximately $103,000. Clarus Wealth Advisors acquired a new stake in shares of Chubb in the second quarter valued at approximately $113,000. Legacy Advisors LLC raised its position in shares of Chubb by 1,612.0% in the third quarter. Legacy Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $115,000 after buying an additional 806 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Chubb in the second quarter valued at approximately $127,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

In other Chubb news, insider Timothy Alan Boroughs sold 14,971 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the completion of the transaction, the insider now directly owns 202,794 shares in the company, valued at $28,263,399.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 227,994 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the transaction, the chief executive officer now owns 1,583,326 shares of the company’s stock, valued at $222,124,804.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,967 shares of company stock valued at $34,072,088. Company insiders own 0.44% of the company’s stock.



A number of equities research analysts have recently weighed in on CB shares. Zacks Investment Research downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Deutsche Bank downgraded shares of Chubb from a “hold” rating to a “sell” rating and dropped their price target for the company from $135.00 to $126.00 in a research report on Monday, August 13th. Wells Fargo & Co reiterated a “buy” rating and issued a $169.00 price target on shares of Chubb in a research report on Wednesday, October 10th. Credit Suisse Group started coverage on shares of Chubb in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 price target for the company. Finally, ValuEngine upgraded shares of Chubb from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Chubb currently has an average rating of “Hold” and an average price target of $159.60.

Shares of NYSE CB traded up $2.42 during midday trading on Tuesday, reaching $125.44. The company’s stock had a trading volume of 161,478 shares, compared to its average volume of 2,119,545. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a fifty-two week low of $120.50 and a fifty-two week high of $157.50. The company has a market cap of $56.92 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.24 and a beta of 1.01.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.39 by $0.02. Chubb had a net margin of 15.37% and a return on equity of 9.71%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.63 billion. During the same period in the previous year, the business earned ($0.13) earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Chubb Ltd will post 9.97 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 21st were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.92 annualized dividend and a yield of 2.33%. Chubb’s dividend payout ratio is currently 36.36%.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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