Baxter Bros Inc. Purchases New Position in Chubb Limited $CB

Key Points

• Baxter Bros Inc. acquired 18,717 shares of Chubb during the second quarter, valued at approximately $6.38 million. Institutional investors collectively own 83.81% of the insurer.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue increased 3.6% year over year. Analysts maintain an average “Hold” rating with a consensus price target of $360.09.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 1.2% yield.

Baxter Bros Inc. purchased a new stake in Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,717 shares of the financial services provider's stock, valued at approximately $6,378,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Chubb during the 4th quarter worth about $205,000. Woodline Partners LP increased its position in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after acquiring an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after acquiring an additional 175 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock worth $58,305,000 after acquiring an additional 17,155 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Jefferies Financial Group reduced their price objective on Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. BMO Capital Markets increased their price objective on Chubb from $326.00 to $339.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Evercore reiterated an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Finally, The Goldman Sachs Group boosted their target price on Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb has an average rating of "Hold" and an average target price of $360.09.

Chubb Trading Up 0.0%

CB opened at $343.80 on Monday. 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 company has a market cap of $132.64 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. The firm has a 50 day simple moving average of $344.31 and a 200 day simple moving average of $332.19. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data 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. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. During the same period last year, the firm earned $6.14 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's payout ratio is 14.43%.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was 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 in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the 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 completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source