William Blair Investment Management LLC Increases Stake in Chubb Limited $CB

Key Points

• William Blair Investment Management LLC has increased its stake in Chubb Limited by 2.9%, now owning approximately 267,172 shares valued at $77.4 million.
• Chubb reported $6.14 earnings per share for the last quarter, exceeding analysts' expectations, and achieved revenues of $14.20 billion, a 6.3% increase year-over-year.
• The company recently announced a quarterly dividend of $0.97 per share, resulting in an annualized dividend yield of 1.4%.

William Blair Investment Management LLC increased its position in Chubb Limited (NYSE:CB - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 267,172 shares of the financial services provider's stock after acquiring an additional 7,487 shares during the quarter. William Blair Investment Management LLC owned about 0.07% of Chubb worth $77,405,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CB. North Capital Inc. purchased a new stake in Chubb in the 1st quarter worth about $26,000. IMA Advisory Services Inc. bought a new position in Chubb in the 1st quarter worth about $31,000. 1248 Management LLC bought a new position in Chubb in the 1st quarter worth about $31,000. WPG Advisers LLC bought a new position in Chubb in the 1st quarter worth about $33,000. Finally, Maseco LLP bought a new position in Chubb in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Shares of CB opened at $268.15 on Friday. The company has a market cap of $106.91 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $277.40 and a 200-day moving average price of $281.09. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

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

Chubb Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup assumed coverage on Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price for the company. Piper Sandler restated a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research note on Wednesday, August 13th. Finally, The Goldman Sachs Group lifted their price target on Chubb from $299.00 to $303.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $305.28.

Insiders Place Their Bets

In other news, Director Michael Corbat bought 425 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.