Public Sector Pension Investment Board Acquires 2,343 Shares of Chubb Limited (NYSE:CB)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Chubb Limited by 2.4% in the first quarter, owning 99,656 shares valued at approximately $30.1 million after acquiring additional shares.
• Chubb announced an increase in its quarterly dividend to $0.97 per share, representing an annualized yield of 1.4% and a dividend payout ratio of 17.12%.
• Following the company's earnings beat with $6.14 EPS against an estimated $5.84, Chubb's revenue for the quarter was reported at $14.20 billion, exceeding expectations by a significant margin.

Public Sector Pension Investment Board raised its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,656 shares of the financial services provider's stock after buying an additional 2,343 shares during the quarter. Public Sector Pension Investment Board's holdings in Chubb were worth $30,095,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Peoples Bank KS acquired a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in Chubb in the first quarter worth $25,000. North Capital Inc. bought a new position in Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. bought a new stake in Chubb in the 1st quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 89 shares during the period. 83.81% of the stock is owned by institutional investors.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction 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 sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock valued at $29,163,135 over the last 90 days. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CB. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Finally, HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $302.31.

Chubb Trading Up 0.3%

Shares of NYSE CB traded up $0.76 during midday trading on Thursday, reaching $275.80. 1,054,090 shares of the stock were exchanged, compared to its average volume of 1,789,846. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a market capitalization of $109.96 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 3.05 and a beta of 0.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50-day simple moving average of $278.56 and a two-hundred day simple moving average of $282.43.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping 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 business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the business posted $5.38 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

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