Wealthfront Advisers LLC Invests $29.12 Million in Chubb Limited $CB

Key Points

• Wealthfront Advisers purchased 85,452 Chubb shares worth approximately $29.12 million during the second quarter. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding analysts’ $6.77 consensus estimate, while revenue rose 3.6% year over year to $11.97 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $360.09, compared with the stock’s recent price of $345.56. Chubb also announced a quarterly dividend of $1.02 per share, representing a 1.2% annualized yield.

Wealthfront Advisers LLC purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 85,452 shares of the financial services provider's stock, valued at approximately $29,117,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of Chubb by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after buying an additional 5,225 shares in the last quarter. waypoint wealth counsel boosted its holdings in shares of Chubb by 76.4% during the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after acquiring an additional 1,784 shares in the last quarter. National Pension Service boosted its holdings in shares of Chubb by 24.4% during the 4th quarter. National Pension Service now owns 1,148,474 shares of the financial services provider's stock valued at $358,462,000 after acquiring an additional 225,515 shares in the last quarter. Harbour Investments Inc. grew its position in Chubb by 884.1% during the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock worth $3,108,000 after acquiring an additional 8,947 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Chubb by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider's stock worth $5,424,000 after acquiring an additional 2,389 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm's 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CB. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and increased their target price for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Wells Fargo & Company lowered their price objective on Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Atlantic Securities set a $301.00 price objective on shares of Chubb in a report on Wednesday, July 15th. Jefferies Financial Group cut their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Finally, Evercore reissued an "outperform" rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $360.09.

Chubb Stock Up 1.4%

Shares of CB opened at $345.56 on Wednesday. The company has a market capitalization of $133.32 billion, a PE ratio of 12.22, a PEG 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 stock's 50-day moving average price is $345.10 and its two-hundred day moving average price is $332.77. 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 (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 14.47% and a net margin of 18.10%.The business's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.14 EPS. On average, analysts anticipate that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

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

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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