Public Sector Pension Investment Board Grows Stake in Chubb Limited $CB

by · The Markets Daily

Public Sector Pension Investment Board lifted its stake in Chubb Limited (NYSE:CBFree Report) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,713 shares of the financial services provider’s stock after purchasing an additional 3,057 shares during the quarter. Public Sector Pension Investment Board’s holdings in Chubb were worth $29,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Chubb during the 2nd quarter valued at about $1,195,137,000. Bank of America Corp DE grew its holdings in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the last quarter. London Co. of Virginia increased its position in shares of Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock valued at $213,559,000 after acquiring an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC raised its holdings in Chubb by 46.9% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after acquiring an additional 444,557 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CB. JPMorgan Chase & Co. lifted their target price on Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Jefferies Financial Group lifted their price objective on Chubb from $297.00 to $302.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Wolfe Research boosted their target price on Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their price target on shares of Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $309.79.

View Our Latest Analysis on CB

Chubb Trading Up 0.8%

Chubb stock opened at $308.45 on Friday. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $308.98. The company has a market cap of $121.39 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.52 and a beta of 0.51. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $288.27 and a two-hundred day simple moving average of $282.18.

Chubb (NYSE:CBGet Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.72 earnings per share. Analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, December 12th. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 850 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the completion of the sale, the executive vice president directly owned 1,585 shares in the company, valued at $467,876.15. This represents a 34.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,333 shares of company stock valued at $16,629,873 in the last 90 days. Company insiders own 0.77% of the company’s stock.

About Chubb

(Free Report)

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.

Further Reading

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