Tufton Capital Management lifted its holdings in shares of Chubb Ltd (NYSE:CB) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,791 shares of the financial services provider’s stock after buying an additional 147 shares during the quarter. Tufton Capital Management’s holdings in Chubb were worth $4,535,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Chubb by 3.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock valued at $869,256,000 after buying an additional 203,528 shares in the last quarter. Strategic Advisors LLC lifted its stake in shares of Chubb by 47.7% during the 1st quarter. Strategic Advisors LLC now owns 2,936 shares of the financial services provider’s stock valued at $411,000 after buying an additional 948 shares in the last quarter. Connable Office Inc. purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $1,192,000. Contravisory Investment Management Inc. purchased a new stake in shares of Chubb during the 2nd quarter valued at approximately $66,000. Finally, Calamos Advisors LLC increased its holdings in Chubb by 0.4% during the 1st quarter. Calamos Advisors LLC now owns 225,592 shares of the financial services provider’s stock worth $31,601,000 after acquiring an additional 824 shares during the period. Institutional investors own 89.02% of the company’s stock.
A number of research firms recently weighed in on CB. ValuEngine lowered shares of Chubb from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Compass Point lowered shares of Chubb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $165.00 to $156.00 in a report on Wednesday, May 29th. They noted that the move was a valuation call. UBS Group upped their target price on shares of Chubb from $156.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, JMP Securities reaffirmed an “outperform” rating on shares of Chubb in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Chubb has a consensus rating of “Hold” and a consensus price target of $150.55.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 EPS for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.02. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.65 billion. Chubb had a net margin of 11.00% and a return on equity of 8.53%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.68 EPS. As a group, equities research analysts predict that Chubb Ltd will post 10.4 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 21st were issued a $0.75 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.95%. Chubb’s dividend payout ratio is presently 31.78%.
In related news, Director Michael G. Atieh sold 2,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $141.87, for a total transaction of $283,740.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Bennett Medini sold 2,125 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $153.72, for a total transaction of $326,655.00. Following the transaction, the insider now directly owns 89,534 shares in the company, valued at approximately $13,763,166.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 340,821 shares of company stock worth $50,608,027. 0.47% of the stock is owned by insiders.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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