Royal London Asset Management Ltd. Raises Position in Chubb Limited $CB

Key Points

• Royal London Asset Management increased its Chubb stake by 32% in the second quarter, adding 171,040 shares to own 705,898 shares valued at approximately $240.5 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company declared a quarterly dividend of $1.02 per share, equivalent to a 1.2% yield.
• Analyst sentiment remains mixed, with Chubb receiving an average “Hold” rating and an average price target of $361, compared with the stock’s reported opening price of $340.34.

Royal London Asset Management Ltd. increased its stake in Chubb Limited (NYSE:CB - Free Report) by 32.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 705,898 shares of the financial services provider's stock after purchasing an additional 171,040 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.18% of Chubb worth $240,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. XXEC Inc. purchased a new position in shares of Chubb during the 2nd quarter valued at $228,226,000. Berkshire Hathaway Inc bought a new position in shares of Chubb during the 2nd quarter worth $11,670,067,000. BlackRock Inc. purchased a new stake in Chubb in the 2nd quarter worth about $9,913,336,000. GQG Partners LLC purchased a new stake in Chubb in the 2nd quarter worth about $4,250,113,000. Finally, Bank of America Corp DE bought a new stake in Chubb in the 2nd quarter valued at about $1,545,084,000. 83.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Chubb Trading Up 0.6%

Shares of Chubb stock opened at $340.34 on Friday. The company's 50-day moving average price is $347.46 and its 200-day moving average price is $333.97. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a market cap of $131.30 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.64 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.14 earnings per share. On average, equities analysts expect that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on CB. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and boosted their price target for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Piper Sandler raised their price objective on shares of Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Morgan Stanley lifted their price objective on shares of Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Finally, Atlantic Securities set a $301.00 target price on shares of Chubb in a report on Wednesday, July 15th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Chubb has an average rating of "Hold" and an average target price of $361.00.

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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