Cibc World Market Inc. Buys Shares of 43,099 Chubb Limited $CB

Cibc World Market Inc. bought a new stake in Chubb Limited (NYSE:CB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 43,099 shares of the financial services provider’s stock, valued at approximately $14,686,000.

Several other hedge funds and other institutional investors have also modified their holdings of CB. XXEC Inc. acquired a new position in Chubb during the second quarter valued at $228,226,000. BlackRock Inc. acquired a new stake in Chubb during the 2nd quarter worth about $9,913,336,000. GQG Partners LLC acquired a new stake in Chubb during the 2nd quarter worth about $4,250,113,000. Norges Bank acquired a new stake in Chubb during the 4th quarter worth about $1,081,190,000. Finally, Bank of New York Mellon Corp purchased a new position in Chubb during the 2nd quarter valued at about $1,042,549,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Trading Up 1.4%

NYSE:CB opened at $345.63 on Tuesday. The company has a market capitalization of $133.34 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.65 and a beta of 0.39. The stock’s 50 day moving average price is $346.25 and its 200 day moving average price is $333.69. 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 Limited has a 52 week low of $265.30 and a 52 week high of $365.91.

Chubb (NYSE:CB) last posted its 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 analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $6.14 earnings per share. On average, research analysts forecast that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared 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 dividend payout ratio (DPR) is currently 14.43%.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. Cantor Fitzgerald upped their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Two 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $361.00.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 23,000 shares of Chubb 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 sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $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. 0.37% of the stock is currently owned by insiders.

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.