Chubb Limited (NYSE:CB) Shares Bought by Prudential PLC

Prudential PLC grew its holdings in Chubb Limited (NYSE:CB) by 48.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,863 shares of the financial services provider’s stock after purchasing an additional 8,389 shares during the quarter. Prudential PLC’s holdings in Chubb were worth $6,597,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CB. Capital World Investors raised its stake in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Capital Research Global Investors raised its position in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after buying an additional 2,064,730 shares during the last quarter. Norges Bank purchased a new position in shares of Chubb during the fourth quarter valued at approximately $957,756,000. Lazard Asset Management LLC boosted its position in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after acquiring an additional 457,881 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Chubb by 2.9% in the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after acquiring an additional 87,059 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold 33,981 shares of company stock valued at $9,504,054 in the last quarter. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of NYSE CB opened at $292.20 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. Chubb Limited has a 1-year low of $204.15 and a 1-year high of $293.27. The company has a market capitalization of $118.03 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 5.65 and a beta of 0.66. The business has a 50-day moving average of $269.66 and a 200-day moving average of $261.09.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.92 EPS. On average, equities analysts anticipate that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CB. Keefe, Bruyette & Woods increased their price target on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. JMP Securities increased their target price on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley lowered their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada boosted their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $274.70.

Chubb Company Profile

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.