Prossimo Advisors LLC Makes New Investment in Chubb Limited (NYSE:CB)

Prossimo Advisors LLC purchased a new stake in shares of Chubb Limited (NYSE:CB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 743 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other institutional investors have also recently made changes to their positions in the company. Capital World Investors grew its holdings in shares of 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 buying an additional 685,677 shares during the last quarter. Capital Research Global Investors grew 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 valued at $1,739,625,000 after buying an additional 2,064,730 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc lifted its position in Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after purchasing an additional 104,986 shares during the period. Finally, Lazard Asset Management LLC lifted its position 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 purchasing an additional 457,881 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,636 shares of company stock valued at $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CB. Roth Mkm increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group increased their price objective on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $287.26.

Chubb Stock Down 1.8 %

Shares of CB stock opened at $277.41 on Friday. The company has a market capitalization of $112.11 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 5.86 and a beta of 0.66. Chubb Limited has a one year low of $215.54 and a one year high of $302.05. The company’s fifty day moving average price is $288.23 and its 200-day moving average price is $270.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.31.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. Chubb’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $4.95 earnings per share. Sell-side analysts expect that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Dividend Announcement

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

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.