1,525 Shares in Chubb Limited $CB Acquired by Summit Global Investments

Summit Global Investments bought a new position in Chubb Limited (NYSE:CB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,525 shares of the financial services provider’s stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CB. Berkshire Hathaway Inc raised its position in Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares in the last quarter. State Street Corp boosted its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 during the last quarter. GQG Partners LLC grew its stake in shares of 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 last quarter. Finally, Bank of America Corp DE grew its stake in shares of Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

Chubb stock opened at $343.80 on Friday. The firm’s 50 day simple moving average is $344.31 and its 200-day simple moving average is $331.99. The company has a market cap of $132.64 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $6.14 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s payout ratio is 14.43%.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction 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 directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on CB shares. Mizuho increased their target price on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Cantor Fitzgerald lifted their price target on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $360.09.

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.