Flputnam Investment Management Co. Acquires 9,925 Shares of Chubb Limited $CB

Key Points

• Flputnam Investment Management Co. increased its stake in Chubb Limited by 10.8%, acquiring an additional 9,925 shares, bringing its total holdings to 101,927 shares valued at approximately $30.78 million.
• Chubb recently posted a quarterly earnings report, exceeding analyst expectations with a reported $6.14 EPS and revenue of $14.2 billion, a 6.3% increase year-over-year.
• The company announced a quarterly dividend of $0.97 per share, with an annualized dividend yield of 1.4%, and authorized a stock buyback plan of up to $5 billion.

Flputnam Investment Management Co. grew its holdings in Chubb Limited (NYSE:CB - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,927 shares of the financial services provider's stock after purchasing an additional 9,925 shares during the period. Flputnam Investment Management Co.'s holdings in Chubb were worth $30,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peoples Bank KS bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb in the first quarter valued at approximately $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the first quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new stake in shares of Chubb in the first quarter valued at approximately $33,000. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CB shares. Citigroup started coverage on shares of Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and decreased their target price for the stock from $317.00 to $300.00 in a report on Friday, August 1st. UBS Group decreased their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Finally, Wells Fargo & Company decreased their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $302.00.

Chubb Price Performance

Shares of NYSE:CB opened at $275.12 on Friday. The company's fifty day moving average price is $275.77 and its 200-day moving average price is $282.77. The firm has a market capitalization of $109.69 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 3.10 and a beta of 0.53. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.38 EPS. On average, equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb's dividend payout ratio is 17.12%.

Chubb announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Chubb news, Director Michael Corbat acquired 425 shares of the business's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Keogh sold 9,794 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

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.

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