First Trust Advisors LP Grows Holdings in Chubb Limited $CB

Key Points

• First Trust Advisors LP raised its stake in Chubb by 12.3% in Q3 to 1,439,838 shares (about $406.4M), and institutional investors now own roughly 83.81% of the company.
• Insider sales: CEO Evan G. Greenberg sold 15,060 shares (~$4.99M) and EVP Timothy A. Boroughs sold 27,817 shares (~$9.23M), materially reducing their holdings.
• Fundamentals and shareholder return: Chubb beat quarterly EPS estimates with $7.52 vs. $6.33 expected, announced a $0.97 quarterly dividend ($3.88 annualized, 1.2% yield), and carries a consensus MarketBeat rating of "Hold" with a $340.81 target.

First Trust Advisors LP raised its position in Chubb Limited (NYSE:CB - Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,439,838 shares of the financial services provider's stock after buying an additional 157,956 shares during the period. First Trust Advisors LP owned 0.37% of Chubb worth $406,394,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CB. Norges Bank purchased a new position in shares of Chubb in the 2nd quarter worth approximately $1,195,137,000. Bank of America Corp DE increased its position in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. London Co. of Virginia increased its position in shares of Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider's stock valued at $213,559,000 after acquiring an additional 500,116 shares during the last quarter. Altrinsic Global Advisors LLC lifted its holdings in Chubb by 46.9% during the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider's stock worth $403,535,000 after acquiring an additional 444,557 shares during the period. Finally, Troy Asset Management Ltd boosted its position in Chubb by 89.1% in the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider's stock worth $229,872,000 after purchasing an additional 373,872 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares of the company's stock, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.77% of the company's stock.

Chubb Stock Down 1.4%

CB stock opened at $327.86 on Friday. The stock has a 50-day simple moving average of $318.20 and a two-hundred day simple moving average of $297.67. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The firm has a market capitalization of $127.92 billion, a PE ratio of 12.74, a PEG ratio of 2.08 and a beta of 0.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same period in the prior year, the firm posted $6.02 earnings per share. The company's revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio is currently 15.08%.

Analyst Ratings Changes

A number of research analysts have issued reports on CB shares. Barclays upped their price objective on Chubb from $317.00 to $339.00 and gave the company an "equal weight" rating in a research note on Thursday, January 8th. Citigroup lifted their target price on Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Wells Fargo & Company boosted their price target on shares of Chubb from $305.00 to $322.00 and gave the stock an "equal weight" rating in a report on Thursday, February 5th. Wolfe Research raised their price objective on shares of Chubb from $364.00 to $372.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a "hold" rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $340.81.

Chubb Company 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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