Hurley Capital LLC Takes Position in Chubb Limited (NYSE:CB)

by · The Markets Daily

Hurley Capital LLC purchased a new position in shares of Chubb Limited (NYSE:CB – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 159 shares of the financial services provider’s stock, valued at approximately $44,000.

Other hedge funds have also added to or reduced their stakes in the company. Wedbush Securities Inc. raised its stake in Chubb by 18.4% during the fourth quarter. Wedbush Securities Inc. now owns 16,064 shares of the financial services provider’s stock worth $4,438,000 after acquiring an additional 2,496 shares in the last quarter. Investidor Profissional Gestao de Recursos Ltda. acquired a new position in Chubb during the 4th quarter worth approximately $218,000. Envestnet Asset Management Inc. lifted its stake in Chubb by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,150,039 shares of the financial services provider’s stock valued at $317,756,000 after purchasing an additional 56,426 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $3,177,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Chubb during the fourth quarter worth $297,000. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CB shares. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of Chubb in a research report on Thursday, January 30th. Piper Sandler upped their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Barclays lowered their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $303.14.

Check Out Our Latest Analysis on CB

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This represents a 33.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,470 shares of company stock valued at $18,562,730. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of CB opened at $280.74 on Friday. The business’s fifty day moving average is $282.25 and its 200 day moving average is $281.75. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market cap of $112.41 billion, a P/E ratio of 12.36, a P/E/G ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.30%. Chubb’s dividend payout ratio (DPR) is currently 16.02%.

About Chubb

(Free Report)

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.

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