80,260 Shares in Chubb Limited $CB Bought by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 80,260 Chubb shares during the second quarter, valued at approximately $27.35 million. Hedge funds and institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding analyst estimates of $6.77, while revenue rose 3.6% year over year. The company declared a quarterly dividend of $1.02 per share, equivalent to a 1.2% yield.
• Analysts have a consensus “Hold” rating with an average price target of $361, compared with the stock’s recent opening price of $341.15. Two executives recently sold shares, and insiders own just 0.37% of the company.

Bank of Nova Scotia acquired a new stake in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 80,260 shares of the financial services provider's stock, valued at approximately $27,348,000.

Other hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Chubb in the 2nd quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in Chubb in the second quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC lifted its stake in shares of Chubb by 86.4% in 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 last quarter. Finally, Merkkuri Wealth Advisors LLC purchased a new position in shares of Chubb during the 1st quarter worth $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company'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 owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were 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 directly owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This trade 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 insiders.

Chubb Stock Performance

NYSE:CB opened at $341.15 on Monday. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $131.62 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39. The business's fifty day moving average price is $345.88 and its 200 day moving average price is $333.46.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The company 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%.Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $6.14 EPS. On average, sell-side analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's payout ratio is presently 14.43%.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Chubb from $340.00 to $370.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. UBS Group boosted their price objective on Chubb from $340.00 to $369.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods increased their target price on Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $354.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Finally, Evercore reaffirmed an "outperform" rating and issued a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $361.00.

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.

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