XXEC Inc. Buys New Position in Chubb Limited $CB

Key Points

• XXEC Inc. acquired 74.14 million Chubb shares worth approximately $228.2 million in the second quarter, making Chubb its 18th-largest portfolio holding and representing about 19.22% of Chubb’s outstanding shares.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company declared a $1.02 quarterly dividend, equivalent to a 1.2% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $361, compared with shares trading around $341.15; institutional investors collectively own 83.81% of the stock.

XXEC Inc. purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 74,143,561 shares of the financial services provider's stock, valued at approximately $228,226,000. Chubb makes up approximately 0.1% of XXEC Inc.'s portfolio, making the stock its 18th largest position. XXEC Inc. owned approximately 19.22% of Chubb at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IMG Wealth Management Inc. purchased a new stake in shares of Chubb during the second quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Chubb during the second quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC boosted its stake in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Down 0.5%

Shares of NYSE:CB opened at $341.15 on Friday. The firm has a market cap of $131.62 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39. The company has a fifty day simple moving average of $345.88 and a 200 day simple moving average of $333.31. 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 Limited has a 12-month low of $265.30 and a 12-month high of $365.91.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.14 EPS. On average, equities research analysts anticipate that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given 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 presently 14.43%.

Analysts Set New Price Targets

Several research firms recently issued reports on CB. Citizens Jmp reaffirmed a "market outperform" rating and set a $400.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Cantor Fitzgerald upped their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Morgan Stanley raised their target price on Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Evercore reiterated an "outperform" rating and issued a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $361.00.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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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