Connor Clark & Lunn Investment Management Ltd. Makes New $44.54 Million Investment in Chubb Limited $CB

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 130,723 shares of the financial services provider’s stock, valued at approximately $44,543,000.

Several other large investors have also modified their holdings of CB. IMG Wealth Management Inc. purchased a new position in shares of Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Chubb during the 2nd quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its position in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Frazier Financial Advisors LLC increased its position in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb in the first quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Up 1.4%

CB stock opened at $345.63 on Tuesday. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The company has a market cap of $133.34 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.65 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $346.25 and a 200-day simple moving average of $333.69.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 earnings per share. On average, equities research analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

The company 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 dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CB shares. Morgan Stanley increased their price objective on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. The Goldman Sachs Group lifted their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. HSBC lowered shares of 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 report on Monday, July 6th. Finally, Cantor Fitzgerald upped their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $361.00.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’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 transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate insiders.

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.