Westpac Banking Corp Boosts Stake in Chubb Limited $CB

Westpac Banking Corp raised its position in Chubb Limited (NYSE:CB) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,855 shares of the financial services provider’s stock after buying an additional 2,579 shares during the period. Westpac Banking Corp’s holdings in Chubb were worth $2,452,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CB. Brighton Jones LLC increased its stake in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb in the 4th quarter valued at about $205,000. Woodline Partners LP increased its stake in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after buying an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Chubb by 14.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after buying an additional 175 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Chubb by 9.3% in the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after buying an additional 17,155 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.2%

CB opened at $313.03 on Thursday. The company has a 50 day moving average of $324.83 and a 200 day moving average of $317.68. The company has a market cap of $121.41 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. On average, sell-side analysts expect that Chubb Limited will post 26.8 EPS for the current year.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Olivier Steimer sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. The trade was a 7.28% 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 owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CB. Wolfe Research increased their price objective on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Citigroup increased their price objective on shares of Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, February 9th. UBS Group reiterated a “neutral” rating and issued a $340.00 price objective on shares of Chubb in a research note on Monday, February 9th. Barclays raised their price target on shares of Chubb from $374.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler raised their price target on shares of Chubb from $328.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $349.90.

Chubb 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.