Oppenheimer Asset Management Inc. Buys New Shares in Chubb Limited $CB

Key Points

• Oppenheimer Asset Management acquired 118,585 Chubb shares in the second quarter, valued at approximately $40.4 million. Institutional investors collectively own 83.81% of Chubb.
• Analyst sentiment remains mixed, with Chubb carrying a consensus “Hold” rating and an average price target of $360.09 versus its reported share price of $343.80.
• Chubb exceeded quarterly earnings expectations, reporting $7.26 in EPS versus a $6.77 estimate, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02 per share, yielding about 1.2% annually.

Oppenheimer Asset Management Inc. bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 118,585 shares of the financial services provider's stock, valued at approximately $40,407,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CB. CBIZ Investment Advisory Services LLC lifted its position in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after acquiring an additional 49 shares during the period. Frazier Financial Advisors LLC increased its position in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC bought a new stake in shares of Chubb during the first quarter valued at approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of Chubb during the fourth quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Chubb in the fourth quarter valued at $32,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was 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 directly owned 33,749 shares of the company's stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company'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 approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Jefferies Financial Group lowered their price target on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Morgan Stanley increased their price objective on shares of Chubb from $330.00 to $340.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. The Goldman Sachs Group raised their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lifted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb presently has an average rating of "Hold" and a consensus price target of $360.09.

Chubb Stock Performance

NYSE CB opened at $343.80 on Friday. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a 50 day moving average of $344.31 and a 200-day moving average of $331.99. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market cap of $132.64 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.70 and a beta of 0.39.

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. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.14 EPS. On average, equities analysts forecast that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

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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