Chubb Limited $CB Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Chubb by 36.3% to 332,760 shares (about 0.08% of the company), worth roughly $93.9 million, as institutional ownership in the stock stands near 83.8%.
• Company insiders made sizable sales: CEO Evan G. Greenberg sold 15,060 shares for about $4.99 million and EVP Timothy Alan Boroughs sold 27,817 shares for about $9.23 million, leaving insiders with roughly 0.77% ownership.
• Chubb beat EPS expectations with $7.52 reported versus $6.33 expected and declared a quarterly dividend of $0.97 (annualized $3.88, ~1.2% yield); analysts hold a consensus "Hold" rating with an average price target of $340.81.

Korea Investment CORP raised its stake in Chubb Limited (NYSE:CB - Free Report) by 36.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 332,760 shares of the financial services provider's stock after buying an additional 88,670 shares during the quarter. Korea Investment CORP owned about 0.08% of Chubb worth $93,922,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its holdings in Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider's stock worth $26,000 after purchasing an additional 56 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Chubb during the second quarter worth $32,000. Cornerstone Planning Group LLC grew its stake in shares of Chubb by 81.5% in the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider's stock valued at $33,000 after buying an additional 53 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new stake in shares of Chubb in the 3rd quarter valued at $34,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer directly owned 511,576 shares of the company's stock, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is owned by insiders.

Chubb Stock Down 1.4%

Shares of Chubb stock opened at $327.86 on Friday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a 50 day moving average of $318.20 and a 200 day moving average of $297.84. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $127.92 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.06 and a beta of 0.46.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating analysts' consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.02 EPS. As a group, research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio (DPR) is currently 15.08%.

Analysts Set New Price Targets

Several research firms have recently commented on CB. BMO Capital Markets raised their price objective on shares of Chubb from $283.00 to $326.00 and gave the company a "market perform" rating in a research note on Tuesday, February 10th. Weiss Ratings reiterated a "buy (b+)" rating on shares of Chubb in a report on Monday, December 29th. HSBC raised their price target on shares of Chubb from $354.00 to $357.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Cantor Fitzgerald upped their price objective on Chubb from $300.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 14th. Finally, Wolfe Research increased their price objective on Chubb from $364.00 to $372.00 and gave the company an "outperform" rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $340.81.

Chubb Profile

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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