Great Lakes Advisors LLC Buys Shares of 79,277 Chubb Limited $CB

Key Points

• Great Lakes Advisors bought 79,277 Chubb shares during the second quarter, valued at approximately $27 million. Institutional investors collectively own 83.81% of the company.
• Chubb reported quarterly EPS of $7.26, exceeding estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. Analysts maintain a consensus “Hold” rating with an average price target of $360.09.
• Chubb declared a quarterly dividend of $1.02 per share, equal to an annualized $4.08 and a 1.2% yield; meanwhile, two executives sold shares, including COO John Keogh’s $7.4 million transaction.

Great Lakes Advisors LLC purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 79,277 shares of the financial services provider's stock, valued at approximately $27,013,000.

Several other institutional investors have also modified their holdings of the business. IMG Wealth Management Inc. bought a new stake in Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Chubb during the 2nd quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after buying an additional 49 shares in the last quarter. Frazier Financial Advisors LLC lifted its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after buying an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb in the first quarter valued at approximately $29,000. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated 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 completion of the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.

Chubb Price Performance

NYSE CB opened at $345.56 on Wednesday. The firm's 50 day moving average is $345.10 and its 200-day moving average is $332.77. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $133.32 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91.

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

Chubb Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CB shares. Morgan Stanley increased their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Jefferies Financial Group reduced their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. Mizuho increased their target price on Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Evercore restated an "outperform" rating and issued a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $360.09.

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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