Fairtree Asset Management Pty Ltd Takes $1.32 Million Position in Chubb Limited $CB

Key Points

• Fairtree Asset Management acquired 3,880 Chubb shares worth approximately $1.32 million during the second quarter. Institutional investors and hedge funds collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate, while revenue rose 3.6% year over year to $11.97 billion. Analysts expect full-year EPS of $27.45.
• Chubb declared a quarterly dividend of $1.02, equating to an annualized $4.08 payout and a 1.2% yield. The stock carries a consensus “Hold” rating with an average price target of $361.

Fairtree Asset Management Pty Ltd bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,880 shares of the financial services provider's stock, valued at approximately $1,322,000.

Several other hedge funds have also added to or reduced their stakes in CB. IMG Wealth Management Inc. bought a new position in Chubb during the 2nd quarter worth $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the 2nd quarter worth about $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC grew its position in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC bought a new position in shares of Chubb during the first quarter worth approximately $29,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Up 0.6%

NYSE CB opened at $342.98 on Friday. The business has a fifty day moving average price of $345.61 and a two-hundred day moving average price of $333.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The stock has a market capitalization of $132.32 billion, a PE ratio of 12.13, a PEG ratio of 1.68 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the company posted $6.14 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts expect that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio is 14.43%.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CB shares. HSBC cut Chubb from a "buy" rating to a "hold" rating and boosted their price target for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Cantor Fitzgerald upped their target price on Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. BMO Capital Markets increased their target price on Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chubb has a consensus rating of "Hold" and a consensus target price of $361.00.

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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