ZEGA Investments LLC Makes New Investment in Chubb Limited $CB

Key Points

• ZEGA Investments initiated a Chubb position in the second quarter, purchasing 3,125 shares valued at approximately $1.065 million. Institutional investors collectively own 83.81% of Chubb’s stock.
• Chubb reported quarterly earnings of $7.26 per share, beating analyst expectations of $6.77, while revenue increased 3.6% year over year. The company declared a quarterly dividend of $1.02 per share, implying a 1.2% yield.
• Chubb shares opened at $348.46, up 2.7%, while analyst sentiment remained mixed with a consensus “Hold” rating and an average price target of $361.

ZEGA Investments LLC bought a new position in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,125 shares of the financial services provider's stock, valued at approximately $1,065,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. NWF Advisory Services Inc. grew its stake in Chubb by 59.6% in the 2nd quarter. NWF Advisory Services Inc. now owns 20,584 shares of the financial services provider's stock valued at $7,014,000 after buying an additional 7,686 shares in the last quarter. Syon Capital LLC lifted its position in shares of Chubb by 19.3% during the second quarter. Syon Capital LLC now owns 6,668 shares of the financial services provider's stock worth $2,272,000 after acquiring an additional 1,079 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Chubb by 4.0% during the second quarter. TD Waterhouse Canada Inc. now owns 142,782 shares of the financial services provider's stock worth $50,238,000 after acquiring an additional 5,428 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Chubb by 1.8% in the second quarter. Concurrent Investment Advisors LLC now owns 72,571 shares of the financial services provider's stock worth $24,728,000 after acquiring an additional 1,254 shares during the period. Finally, NEOS Investment Management LLC grew its position in shares of Chubb by 13.7% in the second quarter. NEOS Investment Management LLC now owns 59,671 shares of the financial services provider's stock valued at $20,332,000 after purchasing an additional 7,174 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Stock Up 2.7%

Shares of NYSE:CB opened at $348.46 on Friday. The firm has a market capitalization of $134.44 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.62 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The firm has a fifty day moving average of $348.27 and a 200 day moving average of $334.40.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter last year, the business posted $6.14 earnings per share. The company's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed 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 is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio is 14.43%.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph Wayland sold 8,502 shares of the company'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 value of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CB. Mizuho boosted their price objective on Chubb from $335.00 to $352.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Barclays set a $387.00 target price on Chubb in a research note on Tuesday, July 7th. Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Cantor Fitzgerald upped their price target on Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group increased their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of "Hold" and a consensus price target of $361.00.

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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