348,137 Shares in Chubb Limited $CB Acquired by Korea Investment CORP

Korea Investment CORP purchased a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 348,137 shares of the financial services provider’s stock, valued at approximately $118,624,000.

A number of other institutional investors have also recently modified their holdings of CB. Janney Montgomery Scott LLC grew its stake in Chubb by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after buying an additional 5,225 shares in the last quarter. National Pension Service raised its position in Chubb by 24.4% during the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock valued at $358,462,000 after purchasing an additional 225,515 shares in the last quarter. Harbour Investments Inc. lifted its stake in Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after purchasing an additional 8,947 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Chubb by 16.8% in the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new position in shares of Chubb in the 4th quarter valued at $3,486,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated 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 transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 0.5%

Shares of CB stock opened at $341.15 on Friday. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market cap of $131.62 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.66 and a beta of 0.39. The stock has a 50-day moving average of $345.88 and a 200-day moving average of $333.31.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on CB. Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. Citizens Jmp reissued a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Morgan Stanley raised their price target on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and lifted their price target for the company from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Profile

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.