Canada Pension Plan Investment Board Buys New Position in Chubb Limited $CB

Key Points

• Canada Pension Plan Investment Board purchased 564,111 Chubb shares worth approximately $192.2 million, acquiring a 0.15% stake. Institutional investors collectively own 83.81% of the insurer.
• Chubb reported quarterly EPS of $7.26, beating the $6.77 consensus estimate, while revenue rose 3.6% year over year. Analysts have an overall “Hold” rating and an average price target of $361.
• Chubb declared a quarterly dividend of $1.02, equivalent to $4.08 annually and a 1.2% yield. Two company insiders recently sold shares, reducing their holdings.

Canada Pension Plan Investment Board purchased a new position in Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 564,111 shares of the financial services provider's stock, valued at approximately $192,215,000. Canada Pension Plan Investment Board owned 0.15% of Chubb at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CB. IMG Wealth Management Inc. bought a new position in shares of Chubb in the second quarter worth about $25,000. Dunhill Financial LLC bought a new position in shares of Chubb during the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Frazier Financial Advisors LLC increased its holdings in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC bought a new stake in Chubb during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Up 0.3%

Shares of CB opened at $344.08 on Thursday. The firm has a market cap of $132.75 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a 50 day simple moving average of $346.84 and a two-hundred day simple moving average of $333.88.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.14 earnings per share. On average, equities analysts expect that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insider Activity

In other Chubb news, 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 transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company's stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CB has been the subject of a number of recent analyst reports. Citigroup reiterated a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. Cantor Fitzgerald raised their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. The Goldman Sachs Group lifted their target price on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Morgan Stanley upped their target price on shares of Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company cut their price target on Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of "Hold" and an average price target of $361.00.

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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