Healthcare of Ontario Pension Plan Trust Fund Reduces Stake in Chubb Limited $CB

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Chubb stake by 23.4% in the first quarter, selling 37,623 shares and ending with 122,845 shares valued at about $40 million.
• Chubb reported better-than-expected quarterly results, posting EPS of $7.26 versus $6.77 expected and revenue of $16.01 billion versus $15.07 billion expected. Revenue rose 3.6% year over year.
• The insurer also raised its quarterly dividend to $1.02 from $0.97, while analysts currently have a consensus rating of Hold with an average price target of $360.09.

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in Chubb Limited (NYSE:CB - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,845 shares of the financial services provider's stock after selling 37,623 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Chubb were worth $40,039,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CB. Brighton Jones LLC boosted its holdings in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Chubb during the fourth quarter worth $205,000. Woodline Partners LP raised its holdings in shares of Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock worth $3,805,000 after purchasing an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock valued at $403,000 after purchasing an additional 175 shares during the period. Finally, Sei Investments Co. lifted its position in Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after purchasing an additional 17,155 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

NYSE:CB opened at $359.78 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The stock's 50-day moving average price is $335.55 and its 200-day moving average price is $327.09. The stock has a market capitalization of $139.55 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.80 and a beta of 0.40.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The company had revenue of $16.01 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.14 EPS. As a group, equities analysts expect that Chubb Limited will post 27.15 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb's dividend payout ratio (DPR) is presently 14.43%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Wolfe Research lifted their price objective on Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Jefferies Financial Group decreased their price objective on Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and upped their target price for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Finally, Bank of America dropped their target price on Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. 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 assigned a Sell rating to the stock. According to MarketBeat, Chubb presently has an average rating of "Hold" and a consensus target price of $360.09.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer directly 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by insiders.

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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