Brooklyn Investment Group Purchases 1,565 Shares of Chubb Limited $CB

Key Points

• Brooklyn Investment Group increased its holdings in Chubb Limited by 58.7% during Q1, acquiring an additional 1,565 shares, bringing their total to 4,233 shares valued at approximately $1,278,000.
• Multiple institutional investors have simultaneously made significant changes to their positions in Chubb, with GQG Partners LLC notable for a 112.1% increase in their stake.
• Chubb recently declared a quarterly dividend of $0.97, which will be paid on October 3rd, and has a $5.00 billion share repurchase program in place, indicating confidence in its stock value.

Brooklyn Investment Group lifted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,233 shares of the financial services provider's stock after purchasing an additional 1,565 shares during the quarter. Brooklyn Investment Group's holdings in Chubb were worth $1,278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GQG Partners LLC increased its stake in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after buying an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC increased its position in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after purchasing an additional 878,177 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. Northern Trust Corp boosted its stake in shares of Chubb by 15.3% in the 4th quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider's stock valued at $1,084,133,000 after purchasing an additional 522,049 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Chubb by 9.2% during the fourth quarter. Deutsche Bank AG now owns 3,603,145 shares of the financial services provider's stock worth $995,549,000 after acquiring an additional 302,699 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CB. Morgan Stanley increased their target price on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Citigroup began coverage on shares of Chubb in a research report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price objective for the company. UBS Group dropped their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Finally, HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and reduced their target price for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $302.31.

Insider Activity

In other Chubb news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock valued at $29,163,135 in the last three months. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Performance

Shares of Chubb stock opened at $274.16 on Monday. The firm has a market capitalization of $109.30 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.09 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average is $277.86 and its two-hundred day moving average is $282.54.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.38 EPS. Research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio (DPR) is currently 17.12%.

Chubb declared that its board has approved a share repurchase program on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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