Flputnam Investment Management Co. Buys New Shares in Chubb Limited $CB

Key Points

• Flputnam Investment Management acquired 24,341 Chubb shares worth approximately $8.3 million in the second quarter, while institutional investors collectively own 83.81% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $360.09, compared with Chubb’s reported opening price of $343.80.
• Chubb reported quarterly EPS of $7.26, exceeding estimates of $6.77, and declared a quarterly dividend of $1.02, equivalent to a 1.2% annualized yield.

Flputnam Investment Management Co. acquired a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,341 shares of the financial services provider's stock, valued at approximately $8,294,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Horizon Investment Services LLC acquired a new stake in shares of Chubb in the second quarter worth $3,492,000. Global Retirement Partners LLC purchased a new stake in shares of Chubb during the second quarter worth about $5,215,000. 1ST Source Bank purchased a new stake in Chubb during the 2nd quarter worth approximately $973,000. Alberta Investment Management Corp acquired a new stake in Chubb in the second quarter valued at $9,030,000. Finally, Fielder Capital Group LLC acquired a new stake in shares of Chubb in the 2nd quarter valued at about $368,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CB. UBS Group lifted their price target on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Atlantic Securities set a $301.00 target price on Chubb in a report on Wednesday, July 15th. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. Evercore reiterated an "outperform" rating and issued a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Finally, The Goldman Sachs Group upped their price target on Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $360.09.

Chubb Price Performance

CB opened at $343.80 on Monday. The firm has a market cap of $132.64 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company's 50-day moving average price is $344.31 and its 200 day moving average price is $332.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

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

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio (DPR) is 14.43%.

Insider Activity at Chubb

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source