Chicago Capital LLC Increases Stake in Chubb Limited $CB

Key Points

• Chicago Capital LLC increased its stake in Chubb Limited by 25.2%, owning 9,631 shares valued at approximately $2.79 million after acquiring additional shares in Q2.
• Chubb's quarterly earnings exceeded expectations, reporting $6.14 EPS against a forecast of $5.84, with a revenue of $14.2 billion, compared to expectations of $12.53 billion.
• Chubb announced a quarterly dividend of $0.97 per share, representing an annual yield of 1.4%, set for distribution on October 3rd.

Chicago Capital LLC boosted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 25.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,631 shares of the financial services provider's stock after purchasing an additional 1,936 shares during the quarter. Chicago Capital LLC's holdings in Chubb were worth $2,790,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. E Fund Management Co. Ltd. boosted its holdings in shares of Chubb by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 36 shares during the last quarter. Rise Advisors LLC boosted its holdings in shares of Chubb by 4.6% during the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock valued at $254,000 after acquiring an additional 37 shares during the last quarter. Sunflower Bank N.A. boosted its holdings in shares of Chubb by 4.4% during the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 38 shares during the last quarter. Avantax Planning Partners Inc. boosted its holdings in shares of Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after acquiring an additional 38 shares during the last quarter. Finally, Sky Investment Group LLC boosted its holdings in shares of Chubb by 1.6% during the 2nd quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock valued at $694,000 after acquiring an additional 38 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. Wolfe Research raised shares of Chubb to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Citigroup initiated coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $303.06.

Chubb Price Performance

NYSE CB opened at $279.41 on Tuesday. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock has a market cap of $111.40 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 3.17 and a beta of 0.56. The company's 50 day moving average is $273.94 and its two-hundred day moving average is $282.44. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb Announces Dividend

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

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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