Horizon Investment Services LLC Decreases Holdings in Chubb Limited $CB

Horizon Investment Services LLC cut its stake in Chubb Limited (NYSE:CB) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,514 shares of the financial services provider’s stock after selling 1,237 shares during the quarter. Chubb comprises about 2.4% of Horizon Investment Services LLC’s investment portfolio, making the stock its 11th biggest position. Horizon Investment Services LLC’s holdings in Chubb were worth $5,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. grew its stake in shares of Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock valued at $291,000 after buying an additional 36 shares in the last quarter. Rise Advisors LLC boosted its holdings in Chubb by 4.6% in the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 37 shares during the period. Sky Investment Group LLC grew its position in Chubb by 1.6% in the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 38 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of Chubb by 2.3% during the second quarter. Evermay Wealth Management LLC now owns 1,684 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 38 shares during the period. Finally, Lincoln Capital LLC lifted its position in shares of Chubb by 0.6% during the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider’s stock worth $2,022,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CB shares. Morgan Stanley dropped their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Jefferies Financial Group boosted their price target on Chubb from $297.00 to $302.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price target on Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a report on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and an average price target of $307.79.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares in the company, valued at $25,458,600. The trade was a 20.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Chubb Price Performance

Shares of NYSE CB opened at $283.01 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $111.38 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The business has a 50 day simple moving average of $278.55 and a 200-day simple moving average of $280.59.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $14.87 billion during the quarter, compared to the consensus estimate of $12.95 billion. During the same quarter in the previous year, the company posted $5.72 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is currently 16.19%.

Chubb 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.