Canada Pension Plan Investment Board acquired a new stake in shares of Chubb Limited (NYSE:CB – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 564,111 shares of the financial services provider’s stock, valued at approximately $192,215,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Chubb in the 2nd quarter worth about $1,049,000. Legal & General Group Plc bought a new position in shares of Chubb in the 2nd quarter valued at about $843,488,000. The Manufacturers Life Insurance Company purchased a new position in Chubb in the second quarter worth about $212,753,000. Jones Financial Companies Lllp purchased a new position in Chubb in the second quarter worth about $373,000. Finally, Sone Capital Management LLC bought a new stake in Chubb during the second quarter worth approximately $10,452,000. 83.81% of the stock is owned by hedge funds and other institutional investors.
Chubb Stock Up 0.3%
Shares of NYSE CB opened at $344.08 on Thursday. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The firm has a 50-day simple moving average of $346.84 and a two-hundred day simple moving average of $333.88. The company has a market cap of $132.75 billion, a P/E ratio of 12.17, a PEG ratio of 1.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.
Chubb Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $1.02 dividend. This represents a $4.08 annualized dividend 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%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CB. Citigroup restated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Atlantic Securities set a $301.00 target price on Chubb in a report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their target price on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $361.00.
Read Our Latest Stock Report on Chubb
Insider Buying and Selling at Chubb
In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb 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 sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% 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, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.
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.
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