BlackRock Inc. purchased a new position in Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,093,549 shares of the financial services provider's stock, valued at approximately $9,913,336,000. BlackRock Inc. owned about 7.54% of Chubb at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CB. Brighton Jones LLC grew its stake in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after acquiring an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Chubb in the 4th quarter valued at approximately $205,000. Woodline Partners LP raised its position in shares of 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 purchasing an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Chubb by 14.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after purchasing an additional 175 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Chubb by 9.3% in the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock worth $58,305,000 after purchasing an additional 17,155 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated 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 owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb 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 transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Morgan Stanley lifted their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 29th. Keefe, Bruyette & Woods upped their target price on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. raised their target price on Chubb from $340.00 to $370.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $360.09.
Read Our Latest Report on Chubb
Chubb Stock Performance
Shares of NYSE CB opened at $341.24 on Tuesday. The company has a 50 day simple moving average of $344.69 and a two-hundred day simple moving average of $332.47. The stock has a market cap of $131.65 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.70 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91.
Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping 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 analyst estimates of $15.07 billion. During the same quarter in the prior year, the business earned $6.14 earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts predict that Chubb Limited will post 27.45 earnings per share for the current year.
Chubb Announces Dividend
The firm also recently declared 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. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio is presently 14.43%.
About Chubb
(
Free Report)
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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