Main Street Financial Solutions LLC Takes $2.55 Million Position in Chubb Limited $CB

Main Street Financial Solutions LLC purchased a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,474 shares of the financial services provider’s stock, valued at approximately $2,547,000.

Several other large investors also recently added to or reduced their stakes in the company. First National Bank of Omaha bought a new stake in Chubb in the 2nd quarter valued at about $3,939,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Chubb during the second quarter valued at about $142,000. Valley Forge Investment Consultants Inc. ADV bought a new position in Chubb during the second quarter worth about $681,000. Meeder Advisory Services Inc. bought a new position in Chubb during the second quarter worth about $3,910,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Chubb in the second quarter worth about $38,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

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

Chubb Trading Up 1.4%

Shares of CB opened at $345.56 on Wednesday. The business’s 50-day moving average price is $345.10 and its 200-day moving average price is $332.77. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The stock has a market cap of $133.32 billion, a PE ratio of 12.22, a P/E/G ratio of 1.70 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the prior year, the firm posted $6.14 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

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

Analysts Set New Price Targets

CB has been the topic of several research reports. Barclays set a $387.00 price target on shares of Chubb in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald lifted their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Jefferies Financial Group lowered their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $360.09.

About Chubb

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.