Pinnacle Wealth Planning Services Inc. has recently increased its holdings in shares of Chubb Limited (NYSE:CB) by 51.2% during the fourth quarter, according to a recent Form 13F filing with the SEC. The company purchased an additional 904 shares during the period and now owns 2,668 shares of the financial service provider’s stock worth $589,000 as of their most recent filing with the SEC.
Chubb reported $4.41 earnings per share (EPS) for Q1 on Tuesday, April 25th, exceeding analysts’ consensus estimate by $0.04. The company had a net margin of 11.71% and a return on equity of 13.13%. Their revenue was up by 9.3% YoY, totaling $9.42 billion compared to analysts’ expectations of $9.39 billion. However, predictions suggest that Chubb Limited will post an EPS of 17.62 for the current fiscal year.
Chubb has also been the subject of several research analyst reports lately, with Barclays lifting their price target from $256 to $260 in a research note on Thursday, April 27th; Atlantic Securities boosting their target price from $240 to $250; JPMorgan Chase & Co raising their price target on shares from $239 to $241 and giving it an “overweight” rating in March; Citigroup upgrading shares from “neutral” to “buy” and setting a $229 price target in mid-April.
Overall, four equities research analysts have rated Chubb’s stock as “hold”, ten as “buy”, and one as “strong buy”. According to data from Bloomberg.com, however, the overall rating is currently listed as “Moderate Buy”, while the average target price for Chubb Limited is set at $243.54.
As investors continue to keep an eye on these developments surrounding Chubb Limited, it appears to be a promising future for the financial service provider and its stakeholders.
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Hedge Funds Take New Positions in Chubb Limited with Strong Analyst Speculation and Dividend Boost
Chubb Limited, the well-known global insurance provider, has recently been seeing some activity in its hedge fund holdings. Several notable funds have taken new positions in Chubb during the fourth quarter worth various amounts, including Hollencrest Capital Management at $30,000 and Armstrong Advisory Group Inc. at $43,000 among others. As a result, institutional investors and hedge funds now own 87.12% of the company’s stock.
Trading volume for NYSE CB shot up to 361,360 shares for Friday trading hours compared to an average volume of 1,779,437 shares as Chubb Limited closed at $192.03 per share. The firm boasts a year-long low of $173.78 and high of $231.37 with a market cap totaling over $79 billion USD.
Chubb’s past performance has earned it significant attention from research analysts who continue to study its trends closely. Barclays lifted their price target on Chubb shares from $256.00 to $260.00 while StockNews.com downgraded them from “buy” rating to “hold.” Citigroup upgraded shares from a “neutral” rating to a “buy” rating while four equities research analysts have rated the stock as “hold” and ten have given it a strong “buy” rating.
On June 7th it was announced that shareholders as of June 16th will be issued a quarterly dividend of $0.86 per share which is a boost up from its previous quarterly dividend of only $0.83 per share giving it an annualized dividend yield of nearly two percent.
Aside from hedge fund activity and analyst speculation, news emerged on March 20th that Director Theodore Shasta had sold out his entire holding and proceeds toward more than one million dollars seeing sharp division amongst other corporate insiders who still hold just under half percent in stock between them.
It remains unclear what this means for Chubb going forward however insiders are speculating that this will lead to further investment into the financial services provider as they expand and adapt their offerings in a changing business world.