Great Lakes Advisors LLC Takes $27.01 Million Position in Chubb Limited $CB

Great Lakes Advisors LLC bought a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 79,277 shares of the financial services provider’s stock, valued at approximately $27,013,000.

Other institutional investors have also made changes to their positions in the company. Compass Wealth Management LLC acquired a new position in shares of Chubb during the 2nd quarter worth approximately $6,448,000. Danske Bank A S acquired a new stake in Chubb during the 2nd quarter valued at $4,522,000. Diversify Advisory Services LLC bought a new position in Chubb during the second quarter worth $1,138,000. Gables Capital Management Inc. bought a new position in Chubb during the second quarter worth $48,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Chubb in the second quarter valued at $29,117,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 target price on shares of Chubb in a report on Wednesday, July 22nd. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and upped their price target for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Wells Fargo & Company lowered their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Finally, Jefferies Financial Group cut their price objective on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $360.09.

Chubb Stock Up 1.4%

CB opened at $345.56 on Wednesday. The stock has a fifty day moving average of $345.10 and a 200-day moving average of $332.77. The company has a market capitalization of $133.32 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.70 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating 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 the consensus estimate of $15.07 billion. During the same period in the prior year, the company posted $6.14 earnings per share. Chubb’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Chubb Limited will post 27.45 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders 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 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

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.