Van Hulzen Asset Management LLC Buys Shares of 70,297 Chubb Limited $CB

Van Hulzen Asset Management LLC purchased a new stake in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 70,297 shares of the financial services provider’s stock, valued at approximately $23,953,000. Chubb makes up 1.7% of Van Hulzen Asset Management LLC’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of CB. Womack Financial LLC bought a new stake in shares of Chubb in the second quarter worth $319,000. Fiduciary Financial Advisors bought a new position in Chubb in the second quarter valued at about $250,000. Manning & Napier Advisors LLC bought a new position in Chubb in the second quarter valued at about $2,817,000. Hyperion Capital Advisors LP purchased a new position in Chubb in the second quarter worth about $339,000. Finally, L2 Asset Management LLC purchased a new position in Chubb in the second quarter worth about $697,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Chubb Stock Up 1.4%

NYSE CB opened at $345.63 on Tuesday. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $133.34 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39. The stock’s 50-day moving average price is $346.25 and its 200-day moving average price is $333.69.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.14 EPS. On average, equities research analysts predict that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Cantor Fitzgerald raised their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Piper Sandler boosted their target price on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley upped their target price on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Finally, UBS Group increased their price target on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $361.00.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.