Brandywine Global Investment Management LLC Raises Holdings in Chubb Limited $CB

Key Points

• Brandywine Global Investment Management LLC increased its holdings in Chubb Limited by 28.5% in the first quarter, acquiring an additional 62,692 shares and holding approximately 0.07% of the company, valued at $85.4 million.
• Chubb has recently faced downgrades from several brokerages, with Deutsche Bank lowering its rating from "buy" to "hold" and setting a price objective of $303.00.
• The company will pay a quarterly dividend of $0.97 per share on October 3rd, representing an annualized payout of $3.88 and a yield of 1.4%, alongside a $5 billion stock buyback program.

Brandywine Global Investment Management LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 28.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 282,793 shares of the financial services provider's stock after buying an additional 62,692 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.07% of Chubb worth $85,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Horizon Investments LLC grew its stake in Chubb by 3.5% during the 1st quarter. Horizon Investments LLC now owns 6,534 shares of the financial services provider's stock worth $1,973,000 after purchasing an additional 218 shares in the last quarter. Inspire Trust Co. N.A. grew its stake in Chubb by 23.1% during the 1st quarter. Inspire Trust Co. N.A. now owns 16,000 shares of the financial services provider's stock worth $4,832,000 after purchasing an additional 3,000 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Chubb by 87.3% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 2,182 shares of the financial services provider's stock worth $659,000 after purchasing an additional 1,017 shares in the last quarter. Sit Investment Associates Inc. grew its stake in Chubb by 0.5% during the 1st quarter. Sit Investment Associates Inc. now owns 113,074 shares of the financial services provider's stock worth $34,147,000 after purchasing an additional 575 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Chubb by 7.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,564 shares of the financial services provider's stock worth $34,597,000 after purchasing an additional 8,400 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on CB shares. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Morgan Stanley lowered their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday. UBS Group lowered their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Cantor Fitzgerald raised Chubb to a "hold" rating in a research report on Wednesday, August 13th. Finally, Citigroup assumed coverage on Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $302.00.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 9,794 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, Director Michael Corbat bought 425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were acquired 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 owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is owned by insiders.

Chubb Stock Performance

Chubb stock traded up $5.6320 during mid-day trading on Wednesday, reaching $279.4320. 2,438,563 shares of the company were exchanged, compared to its average volume of 2,083,536. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm's 50-day simple moving average is $277.15 and its two-hundred day simple moving average is $282.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $111.41 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

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

Chubb Dividend Announcement

The business also recently disclosed 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. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio (DPR) is presently 17.12%.

Chubb declared that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Chubb 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.