TD Asset Management Inc Grows Position in Chubb Limited $CB

Key Points

• TD Asset Management Inc increased its position in Chubb Limited by 6.6%, now holding 291,836 shares valued at approximately $84.55 million.
• Chubb reported a net income of $6.14 EPS for the latest quarter, exceeding analysts' estimates of $5.84 and achieving a revenue increase of 6.3% year-over-year.
• The company also declared a quarterly dividend of $0.97 per share, resulting in an annualized dividend yield of 1.4% for investors.

TD Asset Management Inc grew its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 291,836 shares of the financial services provider's stock after buying an additional 18,151 shares during the period. TD Asset Management Inc owned 0.07% of Chubb worth $84,551,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. E Fund Management Co. Ltd. increased its position in Chubb by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after buying an additional 36 shares in the last quarter. Rise Advisors LLC grew its position in shares of Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 37 shares during the period. Avantax Planning Partners Inc. grew its position in shares of Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares during the period. Sky Investment Group LLC grew its position in shares of Chubb by 1.6% in the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock valued at $694,000 after purchasing an additional 38 shares during the period. Finally, Lincoln Capital LLC grew its position in shares of Chubb by 0.6% in the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock valued at $2,022,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Shares of CB stock opened at $284.60 on Wednesday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market capitalization of $113.47 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 3.15 and a beta of 0.54. The business has a 50 day simple moving average of $277.30 and a 200 day simple moving average of $281.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the company posted $5.38 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's dividend payout ratio is 17.12%.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat bought 425 shares of the stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.86% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CB shares. Morgan Stanley lowered their price objective on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and lowered their price objective for the company from $317.00 to $300.00 in a research report on Friday, August 1st. The Goldman Sachs Group lifted their price objective on Chubb from $299.00 to $303.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. UBS Group reduced their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Finally, Evercore ISI lifted their target price on Chubb from $312.00 to $315.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $305.28.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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