SCS Capital Management LLC Acquires New Holdings in Chubb Limited $CB

Key Points

• SCS Capital Management acquired 23,309 Chubb shares worth approximately $7.95 million in the second quarter. Institutional investors collectively own 83.81% of Chubb’s stock.
• Chubb reported quarterly EPS of $7.26, beating analysts’ $6.77 estimate, while revenue rose 3.6% year over year to $11.97 billion.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to a $4.08 annualized payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $360.09.

SCS Capital Management LLC bought a new stake in 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 bought 23,309 shares of the financial services provider's stock, valued at approximately $7,945,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Chubb in the 2nd quarter worth approximately $1,042,549,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Chubb in the second quarter valued at approximately $5,443,000. State of Wyoming acquired a new position in shares of Chubb during the second quarter valued at approximately $550,000. S&CO Inc. acquired a new position in shares of Chubb during the second quarter valued at approximately $6,445,000. Finally, Kelleher Financial Advisors bought a new stake in Chubb during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Up 0.0%

CB stock opened at $343.80 on Monday. The firm has a market cap of $132.64 billion, a PE ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $344.31 and a 200 day simple moving average of $332.19.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.14 earnings per share. Equities research analysts forecast that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on CB shares. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. Evercore reiterated an "outperform" rating and set a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. UBS Group boosted their price objective on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their price objective on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group raised their target price on Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Two research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of "Hold" and an average target price of $360.09.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction 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 transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company's stock.

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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