SCS Capital Management LLC Takes Position in Chubb Limited $CB

SCS Capital Management LLC purchased a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 23,309 shares of the financial services provider’s stock, valued at approximately $7,945,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. CBIZ Investment Advisory Services LLC grew its position in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC raised its stake in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC purchased a new stake in shares of Chubb in the first quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb in the fourth quarter valued at $31,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Chubb in the second quarter worth $34,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb 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 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. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CB. Evercore reiterated an “outperform” rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and increased their price objective for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. UBS Group raised their price objective on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lowered their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $360.09.

Chubb Trading Up 0.0%

Chubb stock opened at $343.80 on Monday. The company’s fifty day simple moving average is $344.31 and its 200-day simple moving average is $332.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The stock has a market cap of $132.64 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $15.07 billion. During the same period in the prior year, the business posted $6.14 earnings per share. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $1.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is 14.43%.

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.