XXEC Inc. Boosts Holdings in Chubb Limited $CB

Key Points

• XXEC Inc. increased its Chubb stake by 473.3% in the first quarter, ending with 50,041 shares worth about $15.6 million.
• Chubb continues to attract major institutional interest, with Berkshire Hathaway, Norges Bank, and other hedge funds also adding to their positions; about 83.81% of the stock is owned by institutional investors.
• Chubb reported strong fundamentals and shareholder returns, including $6.82 EPS last quarter and a raised quarterly dividend of $1.02 per share, while analysts currently rate the stock Moderate Buy with an average target price of $349.10.

XXEC Inc. boosted its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 473.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,041 shares of the financial services provider's stock after buying an additional 41,313 shares during the quarter. Chubb makes up about 3.1% of XXEC Inc.'s investment portfolio, making the stock its 16th largest holding. XXEC Inc.'s holdings in Chubb were worth $15,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CB. Berkshire Hathaway Inc boosted its stake in shares of Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. Norges Bank purchased a new stake in shares of Chubb in the 4th quarter worth $1,081,190,000. Price T Rowe Associates Inc. MD increased its stake in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chubb in the 4th quarter worth $795,378,000. Finally, GQG Partners LLC raised its holdings in Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CB shares. Jefferies Financial Group lowered their target price on Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Chubb from $304.00 to $330.00 and gave the stock a "hold" rating in a research report on Monday, March 23rd. The Goldman Sachs Group lowered their price objective on Chubb from $372.00 to $362.00 and set a "buy" rating on the stock in a research report on Monday, June 8th. HSBC boosted their price objective on Chubb from $362.00 to $370.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Barclays reduced their target price on shares of Chubb from $375.00 to $368.00 and set an "equal weight" rating for the company in a report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $349.10.

Chubb Trading Down 0.8%

Shares of Chubb stock opened at $340.49 on Wednesday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $132.06 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.75 and a beta of 0.41. The company has a fifty day moving average of $325.62 and a 200 day moving average of $322.10.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion for the quarter. On average, sell-side analysts anticipate that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $1.02 per share. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio is 14.41%.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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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