CX Institutional Boosts Holdings in Chubb Limited $CB

Key Points

• CX Institutional significantly increased its stake in Chubb Limited by 517.8% during Q2, owning 20,802 shares valued at approximately $6,027,000.
• Chubb reported a quarterly earnings per share of $6.14, surpassing analysts' expectations, with revenue of $14.20 billion, a year-over-year increase of 6.3%.
• The company declared a quarterly dividend of $0.97, which will yield an annualized dividend of $3.88 and a yield of 1.4%, with a payout ratio of 17.12%.

CX Institutional grew its position in Chubb Limited (NYSE:CB - Free Report) by 517.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,802 shares of the financial services provider's stock after acquiring an additional 17,435 shares during the quarter. CX Institutional's holdings in Chubb were worth $6,027,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC boosted its position in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after buying an additional 4,964,298 shares during the period. GAMMA Investing LLC boosted its holdings in Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after acquiring an additional 2,078,390 shares during the period. Nuveen LLC bought a new position in Chubb in the 1st quarter valued at $562,221,000. Demars Financial Group LLC increased its stake in Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the period. Finally, SG Americas Securities LLC increased its stake in Chubb by 1,243.9% in the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock worth $205,491,000 after purchasing an additional 629,822 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Up 0.1%

Shares of NYSE CB opened at $278.40 on Friday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The stock's fifty day simple moving average is $273.70 and its two-hundred day simple moving average is $282.67. The stock has a market capitalization of $111.00 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 3.14 and a beta of 0.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last issued 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 firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the prior year, the business posted $5.38 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

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 issued a $0.97 dividend. 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 dividend payout ratio (DPR) is currently 17.12%.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, 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.

Wall Street Analyst Weigh In

CB has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Evercore ISI set a $312.00 target price on shares of Chubb in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Citigroup started coverage on Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price target for the company. Finally, Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Chubb currently has an average rating of "Hold" and an average price target of $303.06.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.