Horizon Investment Services LLC Purchases 327 Shares of Chubb Limited (NYSE:CB)

Horizon Investment Services LLC lifted its position in Chubb Limited (NYSE:CB) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,665 shares of the financial services provider’s stock after buying an additional 327 shares during the period. Chubb comprises 2.2% of Horizon Investment Services LLC’s portfolio, making the stock its 11th largest holding. Horizon Investment Services LLC’s holdings in Chubb were worth $4,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CB. Capital World Investors lifted its position in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares during the period. Capital Research Global Investors increased its holdings in 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 valued at $1,739,625,000 after buying an additional 2,064,730 shares during the last quarter. Norges Bank purchased a new stake in Chubb during the fourth quarter valued at approximately $957,756,000. Lazard Asset Management LLC increased its holdings in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after buying an additional 87,059 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

CB stock opened at $287.19 on Friday. Chubb Limited has a 52 week low of $198.67 and a 52 week high of $293.13. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $268.26 and a two-hundred day simple moving average of $260.44. The firm has a market capitalization of $116.62 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business earned $4.92 EPS. Analysts anticipate that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.91 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.27%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley reduced their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JMP Securities upped their target price on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Barclays started coverage on shares of Chubb in a report on Wednesday. They set an “overweight” rating and a $349.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $274.70.

Insider Transactions at Chubb

In other news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 15,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,382 shares of company stock worth $7,609,745. 0.86% of the stock is currently owned by insiders.

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.