MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Chubb Limited (NYSE:CB – Free Report) in the second quarter, Holdings Channel.com reports. The firm purchased 20,374 shares of the financial services provider’s stock, valued at approximately $6,942,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. XXEC Inc. bought a new position in shares of Chubb in the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc purchased a new position in shares of Chubb during the second quarter valued at approximately $11,670,067,000. BlackRock Inc. bought a new stake in Chubb during the second quarter worth $9,913,336,000. GQG Partners LLC bought a new stake in Chubb during the second quarter worth $4,250,113,000. Finally, Bank of America Corp DE purchased a new stake in Chubb in the 2nd quarter valued at $1,545,084,000. 83.81% of the stock is owned by institutional investors.
Insider Transactions at Chubb
In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the stock in a transaction that occurred 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 transaction, 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. Company insiders own 0.37% of the company’s stock.
Chubb Stock Down 1.6%
Chubb (NYSE:CB – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $6.14 EPS. Analysts expect that Chubb Limited will post 27.49 EPS for the current year.
Chubb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is presently 14.43%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on CB shares. UBS Group raised their price objective on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group increased their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Evercore reissued an “outperform” rating and set a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Wells Fargo & Company dropped their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $361.00.
Get Our Latest Research Report on Chubb
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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