Jupiter Topco LLC Makes New Investment in Chubb Limited $CB

Key Points

• Jupiter Topco LLC bought a new 44,418-share stake in Chubb during the second quarter, valued at approximately $15.1 million. Institutional investors collectively own 83.81% of the insurer.
• Chubb’s latest quarterly results exceeded earnings expectations, with EPS of $7.26 versus the $6.77 consensus, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02, representing a 1.2% annualized yield.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $361. Recent insider activity was negative, as two executives sold shares, including a director’s $1.9 million transaction.

Jupiter Topco LLC purchased a new stake in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 44,418 shares of the financial services provider's stock, valued at approximately $15,130,000.

A number of other institutional investors also recently modified their holdings of CB. Janney Montgomery Scott LLC grew its holdings in Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock valued at $102,959,000 after buying an additional 5,225 shares during the last quarter. National Pension Service lifted its holdings in shares of Chubb by 24.4% during the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider's stock worth $358,462,000 after buying an additional 225,515 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Chubb by 884.1% in the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock valued at $3,108,000 after acquiring an additional 8,947 shares during the period. Bessemer Group Inc. boosted its position in shares of Chubb by 16.8% in the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider's stock valued at $5,424,000 after acquiring an additional 2,389 shares during the period. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Chubb in the fourth quarter worth $3,486,000. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on 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 transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

CB has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Morgan Stanley boosted their price objective on shares of Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Cantor Fitzgerald increased their target price on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $361.00.

Chubb Stock Performance

NYSE CB opened at $340.34 on Friday. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. 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 stock has a market cap of $131.30 billion, a P/E ratio of 12.04, a PEG ratio of 1.65 and a beta of 0.39. The company's 50-day simple moving average is $347.46 and its 200 day simple moving average is $333.97.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 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 during the quarter, compared to analysts' expectations of $15.07 billion. During the same quarter last year, the company earned $6.14 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Announces Dividend

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 paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's payout ratio is currently 14.43%.

About Chubb

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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