Hanson & Doremus Investment Management Purchases 841 Shares of Chubb Limited (NYSE:CB)

Hanson & Doremus Investment Management raised its holdings in shares of Chubb Limited (NYSE:CB) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,357 shares of the financial services provider’s stock after purchasing an additional 841 shares during the period. Hanson & Doremus Investment Management’s holdings in Chubb were worth $3,152,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CB. Norges Bank purchased a new stake in Chubb in the fourth quarter worth approximately $957,756,000. Capital Research Global Investors lifted its holdings in Chubb by 44.4% in 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 acquiring an additional 2,064,730 shares during the period. Capital World Investors boosted its position in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Chubb during the 1st quarter valued at about $165,932,000. Finally, Bank of Nova Scotia lifted its stake in shares of Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CB shares. Bank of America increased their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $274.70.

Insider Activity

In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction dated 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 directly owns 39,172 shares in the company, valued at $11,261,558.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,836 shares of company stock valued at $27,055,900. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Up 0.4 %

Shares of NYSE CB opened at $288.87 on Friday. 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 $204.15 and a 12-month high of $294.18. The firm’s 50-day moving average price is $272.40 and its 200-day moving average price is $261.97. The stock has a market capitalization of $116.68 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.92 earnings per share. On average, equities research analysts anticipate that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio (DPR) is 16.16%.

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.