Plato Investment Management Ltd Purchases New Shares in Chubb Limited $CB

Key Points

• Plato Investment Management purchased 7,410 Chubb shares worth approximately $2.51 million, while institutional investors collectively own 83.81% of the company.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate; revenue rose 3.6% year over year to $11.97 billion.
• Chubb declared a quarterly dividend of $1.02, equivalent to $4.08 annually and a 1.2% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $360.09.

Plato Investment Management Ltd purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,410 shares of the financial services provider's stock, valued at approximately $2,510,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after acquiring an additional 5,225 shares during the period. waypoint wealth counsel increased its holdings in shares of Chubb by 76.4% in the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after purchasing an additional 1,784 shares during the period. National Pension Service raised its stake 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 purchasing an additional 225,515 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock worth $3,108,000 after purchasing an additional 8,947 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Chubb by 16.8% during the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider's stock worth $5,424,000 after purchasing an additional 2,389 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE CB opened at $343.80 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The firm has a market capitalization of $132.64 billion, a P/E ratio of 12.16, a PEG ratio of 1.70 and a beta of 0.39. The company's fifty day moving average is $344.31 and its two-hundred day moving average is $332.19.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter last year, the firm posted $6.14 EPS. The business's revenue was up 3.6% compared to the same quarter last year. Analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on CB shares. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. UBS Group boosted their price target on shares of Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Piper Sandler increased their price target on shares of Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Evercore restated an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Chubb currently has a consensus rating of "Hold" and a consensus target price of $360.09.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

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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