Logan Capital Management Inc. Acquires 9,800 Shares of Chubb Limited $CB

Key Points

• Logan Capital Management Inc. increased its stake in Chubb Limited by 95.8% during the first quarter, acquiring an additional 9,800 shares valued at approximately $6,049,000.
• Several institutional investors, including Legato Capital Management and Jump Financial, significantly boosted their holdings in Chubb, with Jump Financial's stake increasing by 633.6%.
• Chubb's recent quarterly earnings beat analyst expectations, reporting $6.14 EPS against a consensus estimate of $5.84, accompanied by a net margin of 16.08% and revenue of $14.20 billion.

Logan Capital Management Inc. lifted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 95.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,029 shares of the financial services provider's stock after acquiring an additional 9,800 shares during the quarter. Logan Capital Management Inc.'s holdings in Chubb were worth $6,049,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CB. Peoples Bank KS bought a new position in shares of Chubb during the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Chubb in the 1st quarter worth about $25,000. North Capital Inc. bought a new stake in shares of Chubb during the 1st quarter valued at about $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb during the 1st quarter valued at about $31,000. Finally, 1248 Management LLC bought a new stake in shares of Chubb during the 1st quarter valued at about $31,000. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CB shares. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and dropped their price target for the company from $317.00 to $300.00 in a research report on Friday, August 1st. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft downgraded 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. Wells Fargo & Company decreased their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Finally, Citigroup assumed coverage on Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Chubb presently has an average rating of "Hold" and an average target price of $302.00.

Chubb Trading Up 2.1%

Shares of CB traded up $5.76 during mid-day trading on Thursday, hitting $283.21. 1,656,983 shares of the company's stock traded hands, compared to its average volume of 1,591,194. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm has a market capitalization of $112.91 billion, a P/E ratio of 12.49, a PEG ratio of 3.13 and a beta of 0.56. The business's 50-day moving average price is $274.46 and its 200-day moving average price is $283.33.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the previous year, the firm earned $5.38 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

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

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

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

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.