Chubb Limited $CB Position Boosted by Talaria Asset Management Pty Ltd

Key Points

• Talaria Asset Management Pty Ltd increased its stake in Chubb Limited by 2.4% in Q1, acquiring a total of 58,600 shares valued at approximately $17.7 million.
• Chubb recently announced a new quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, set to be paid on October 3rd.
• In Q2, Chubb reported an EPS of $6.14, exceeding estimates by $0.30, and its revenue reached $14.20 billion, marking a 6.3% increase year-over-year.

Talaria Asset Management Pty Ltd lifted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,600 shares of the financial services provider's stock after purchasing an additional 1,400 shares during the period. Chubb comprises approximately 5.9% of Talaria Asset Management Pty Ltd's portfolio, making the stock its 7th largest position. Talaria Asset Management Pty Ltd's holdings in Chubb were worth $17,697,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Peoples Bank KS acquired a new position in Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb in the first quarter valued at $25,000. North Capital Inc. acquired a new position in Chubb in the first quarter valued at $26,000. IMA Advisory Services Inc. acquired a new position in Chubb in the first quarter valued at $31,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Chubb by 391.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 94 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Corbat bought 425 shares of the stock in a transaction on Friday, July 25th. The shares were bought 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 of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. Evercore ISI set a $312.00 price objective on shares of Chubb in a research note on Wednesday, July 23rd. Morgan Stanley decreased their price objective on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Wells Fargo & Company decreased their price objective on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Finally, HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $302.00.

Chubb Stock Performance

Shares of Chubb stock traded up $1.87 on Friday, reaching $275.12. 1,248,361 shares of the stock were exchanged, compared to its average volume of 1,656,635. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average price of $275.77 and a two-hundred day moving average price of $282.65. The firm has a market capitalization of $109.69 billion, a PE ratio of 12.14, a PEG ratio of 3.08 and a beta of 0.53.

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

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

Chubb Dividend Announcement

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