Chubb Limited $CB Shares Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC significantly increased its stake in Chubb Limited by 633.6% during the first quarter, holding 8,180 shares worth approximately $2.47 million.
• Chubb recently reported $6.14 EPS for the previous quarter, exceeding expectations and marking a revenue increase of 6.3% year-over-year, with total revenue of $14.20 billion.
• The company announced a quarterly dividend of $0.97 per share to be issued on October 3rd, representing an annualized yield of 1.4%, and also approved a $5.00 billion share repurchase program.

Jump Financial LLC increased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 633.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,180 shares of the financial services provider's stock after buying an additional 7,065 shares during the period. Jump Financial LLC's holdings in Chubb were worth $2,470,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CB. GQG Partners LLC increased its position in Chubb by 112.1% during 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 purchasing an additional 4,964,298 shares during the period. GAMMA Investing LLC increased its holdings in Chubb by 36,831.3% during the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after buying an additional 2,078,390 shares during the period. Nuveen LLC purchased a new position in Chubb during the first quarter valued at approximately $562,221,000. Royal Bank of Canada increased its holdings in Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after buying an additional 1,403,545 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new position in Chubb during the fourth quarter valued at approximately $336,972,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CB shares. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a research report on Tuesday, May 20th. Citigroup started coverage on Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price on the stock. Morgan Stanley reduced their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. UBS Group lowered their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $302.00.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the transaction, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.

Chubb Stock Up 0.7%

Shares of CB traded up $1.87 during mid-day trading on Friday, hitting $275.12. 1,248,361 shares of the company traded hands, compared to its average volume of 1,656,635. The company has a market capitalization of $109.69 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. 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 business has a 50 day moving average of $275.77 and a 200 day moving average of $282.77. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91.

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

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's payout ratio is currently 17.12%.

Chubb declared that its board has initiated a share repurchase plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Chubb Company Profile

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.