Caisse de depot et placement du Quebec Takes Position in Chubb Limited $CB

Key Points

• Caisse de dépôt et placement du Québec acquired 385,851 Chubb shares during the second quarter, valued at approximately $131.5 million and representing about 0.10% of the insurer. Institutional investors and hedge funds collectively own 83.81% of Chubb.
• Analyst sentiment is mixed but generally constructive: Chubb has an average “Hold” rating and a consensus price target of $361, with several firms recently raising targets to between $386 and $400.
• Chubb beat quarterly earnings expectations, reporting $7.26 in EPS versus the $6.77 consensus, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02 per share, equivalent to a 1.2% annual yield.

Caisse de depot et placement du Quebec acquired a new stake in Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 385,851 shares of the financial services provider's stock, valued at approximately $131,475,000. Caisse de depot et placement du Quebec owned approximately 0.10% of Chubb as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in shares of Chubb in the second quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% during the 4th 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. Frazier Financial Advisors LLC boosted its holdings in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after buying an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new position in Chubb in the 1st quarter valued at $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CB shares. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Citizens Jmp restated a "market outperform" rating and set a $400.00 price target on shares of Chubb in a report on Wednesday, July 22nd. The Goldman Sachs Group raised their price target on Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Mizuho boosted their price objective on Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $361.00.

Insider Activity at Chubb

In other news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was 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. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Chubb Price Performance

NYSE:CB opened at $344.08 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50-day moving average of $346.84 and a 200-day moving average of $333.88. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The company has a market capitalization of $132.75 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.66 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share 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 business had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. During the same quarter in the previous year, the firm posted $6.14 earnings per share. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

About Chubb

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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