Chubb Limited $CB Shares Acquired by Principal Financial Group Inc.

Key Points

• Principal Financial Group slightly increased its Chubb stake in the first quarter, owning 1,313,022 shares after adding 4,234 shares. The position was valued at about $427.95 million.
• Several analysts updated their views on Chubb, with price targets ranging up to $386. MarketBeat’s consensus rating remains Hold, with a consensus target price of $358.81.
• Chubb reported strong financial results and raised its quarterly dividend to $1.02 per share from $0.97, putting the annualized payout at $4.08 and the yield at about 1.2%.

Principal Financial Group Inc. increased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,313,022 shares of the financial services provider's stock after acquiring an additional 4,234 shares during the quarter. Principal Financial Group Inc. owned approximately 0.34% of Chubb worth $427,953,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock worth $2,689,000 after acquiring an additional 7,156 shares during the period. Chesley Taft & Associates LLC grew its holdings in Chubb by 7.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock valued at $31,970,000 after purchasing an additional 7,043 shares during the period. Pallas Capital Advisors LLC grew its holdings in Chubb by 42.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider's stock valued at $4,446,000 after purchasing an additional 4,233 shares during the period. Janney Montgomery Scott LLC increased its position in Chubb by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after purchasing an additional 5,225 shares during the last quarter. Finally, waypoint wealth counsel increased its position in Chubb by 76.4% during the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock worth $1,285,000 after purchasing an additional 1,784 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 29th. Wells Fargo & Company increased their target price on Chubb from $333.00 to $358.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Cantor Fitzgerald lifted their target price on Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a report on Thursday. Wolfe Research boosted their price target on Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Finally, The Goldman Sachs Group boosted 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $358.81.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.

Chubb Trading Up 1.9%

Shares of CB opened at $354.46 on Tuesday. The stock's 50-day moving average is $330.45 and its two-hundred day moving average is $324.89. The stock has a market cap of $137.48 billion, a PE ratio of 12.52, a P/E/G ratio of 1.78 and a beta of 0.40. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $365.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Equities analysts forecast that Chubb Limited will post 26.76 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $1.02 dividend. The ex-dividend date was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is currently 14.41%.

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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