Castlekeep Investment Advisors LLC bought a new position in Chubb Limited (NYSE:CB – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,078 shares of the financial services provider’s stock, valued at approximately $1,049,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. XXEC Inc. acquired a new position in shares of Chubb during the second quarter worth $228,226,000. Berkshire Hathaway Inc increased its holdings in Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. BlackRock Inc. bought a new position in Chubb during the 2nd quarter worth $9,913,336,000. State Street Corp lifted its holdings in Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after buying an additional 68,553 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after buying an additional 3,049,987 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Cantor Fitzgerald lifted their price objective on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Evercore reaffirmed an “outperform” rating and set a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chubb has a consensus rating of “Hold” and a consensus target price of $361.00.
Insider Activity at Chubb
In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This 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 is accessible through this link. Also, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of 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. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.
Chubb Stock Performance
Shares of CB stock opened at $342.90 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50-day moving average of $346.53 and a 200-day moving average of $333.79. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a market cap of $132.29 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.68 and a beta of 0.39.
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the previous year, the company earned $6.14 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Chubb Limited will post 27.49 EPS for the current fiscal year.
Chubb Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio is currently 14.43%.
Chubb Company Profile
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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