Cim Investment Management Inc. Increases Stock Position in Chubb Limited $CB

Cim Investment Management Inc. boosted its holdings in shares of Chubb Limited (NYSE:CB) by 99.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,844 shares of the financial services provider’s stock after buying an additional 3,416 shares during the quarter. Cim Investment Management Inc.’s holdings in Chubb were worth $1,937,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock worth $10,643,993,000 after acquiring an additional 210,053 shares in the last quarter. Geode Capital Management LLC grew its stake in Chubb by 0.3% in the second quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock valued at $2,541,771,000 after purchasing an additional 30,721 shares during the last quarter. Bank of America Corp DE raised its holdings in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after buying an additional 304,751 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Chubb in the 2nd quarter valued at about $1,195,137,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In other Chubb news, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $296.45, for a total value of $4,854,368.75. Following the sale, the insider directly owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,333 shares of company stock valued at $16,629,873 in the last ninety days. Insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $308.45 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50-day moving average of $288.27 and a two-hundred day moving average of $282.18. The stock has a market cap of $121.39 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.52 and a beta of 0.51. Chubb Limited has a one year low of $252.16 and a one year high of $308.98.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The firm had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period last year, the business posted $5.72 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Analyst Ratings Changes

Several research firms recently commented on CB. Evercore ISI boosted their price objective on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Morgan Stanley upped their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Citigroup raised their price objective on Chubb from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. UBS Group upped their target price on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, HSBC increased their price target on Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $309.79.

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.