Assenagon Asset Management S.A. Acquires 127,492 Shares of Chubb Limited $CB

Key Points

• Assenagon Asset Management dramatically increased its Chubb stake in Q1, buying 127,492 additional shares and lifting its holdings to 138,288 shares valued at about $45.1 million.
• Analyst sentiment on Chubb is mixed but mostly cautious: the stock has a consensus “Hold” rating, with a consensus price target of $349.10 after several firms recently adjusted their targets.
• Chubb reported strong quarterly results and raised its dividend to $1.02 per share, up from $0.97, while insiders also showed some selling activity, including a 23,000-share sale by COO John W. Keogh.

Assenagon Asset Management S.A. lifted its stake in Chubb Limited (NYSE:CB - Free Report) by 1,180.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,288 shares of the financial services provider's stock after purchasing an additional 127,492 shares during the period. Assenagon Asset Management S.A.'s holdings in Chubb were worth $45,072,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. CBIZ Investment Advisory Services LLC raised its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after buying an additional 49 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $31,000. Ares Financial Consulting LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Chubb in the 3rd quarter worth approximately $31,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in Chubb by 38.3% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after acquiring an additional 31 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a report on Monday, April 20th. HSBC lifted their target price on shares of Chubb from $362.00 to $370.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Piper Sandler upped their target price on shares of Chubb from $328.00 to $340.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Bank of America cut their price target on Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Finally, Citizens Jmp raised their price target on Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $349.10.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company's stock.

Chubb Stock Performance

CB opened at $330.95 on Friday. The stock has a market capitalization of $128.36 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.71 and a beta of 0.41. The company has a fifty day moving average of $324.86 and a 200 day moving average of $321.17. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, sell-side analysts forecast that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a positive change from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, June 12th. Chubb's payout ratio is presently 14.41%.

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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