Klingenstein Fields & Co. LP Grows Holdings in Chubb Limited (NYSE:CB)

Klingenstein Fields & Co. LP increased its stake in shares of Chubb Limited (NYSE:CB) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 109,483 shares of the financial services provider’s stock after purchasing an additional 777 shares during the period. Klingenstein Fields & Co. LP’s holdings in Chubb were worth $27,927,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors lifted its position 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 worth $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Capital Research Global Investors lifted its holdings in Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. Norges Bank purchased a new position in Chubb in the 4th quarter valued at approximately $957,756,000. Lazard Asset Management LLC grew its stake in shares of Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after acquiring an additional 457,881 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after acquiring an additional 87,059 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock traded up $2.20 on Monday, hitting $284.18. The stock had a trading volume of 2,343,500 shares, compared to its average volume of 1,606,922. The stock has a market cap of $115.39 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 5.59 and a beta of 0.66. 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 52-week low of $198.67 and a 52-week high of $284.49. The company’s 50 day moving average price is $266.31 and its 200 day moving average price is $259.55.

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

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other 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 value of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Juan Luis Ortega sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,521 shares of company stock valued at $3,878,712. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CB shares. Roth Mkm boosted their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Morgan Stanley reduced their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. JMP Securities boosted their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Finally, Bank of America increased their price objective on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $270.79.

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.