Riverhead Capital Management LLC boosted its holdings in shares of Chubb Ltd (NYSE:CB) by 16.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,617 shares of the financial services provider’s stock after buying an additional 1,391 shares during the period. Riverhead Capital Management LLC’s holdings in Chubb were worth $1,222,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Clarus Wealth Advisors purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $113,000. FNY Investment Advisers LLC purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $127,000. Edge Wealth Management LLC purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $133,000. Fairfield Bush & CO. purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $137,000. Finally, Adviser Investments LLC purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $140,000. Institutional investors own 87.19% of the company’s stock.
Shares of NYSE:CB opened at $136.20 on Wednesday. The firm has a market cap of $62.65 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a 1-year low of $123.96 and a 1-year high of $157.50.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.06. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.30 billion. Chubb had a net margin of 11.53% and a return on equity of 7.41%. Chubb’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 EPS. research analysts expect that Chubb Ltd will post 10.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 21st will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 20th. Chubb’s dividend payout ratio is currently 36.36%.
A number of research analysts recently commented on CB shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of Chubb in a research report on Wednesday, August 8th. Citigroup increased their target price on shares of Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. ValuEngine raised shares of Chubb from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Credit Suisse Group started coverage on shares of Chubb in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $160.09.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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