Westpac Banking Corp Acquires 2,579 Shares of Chubb Limited $CB

Westpac Banking Corp increased its holdings in Chubb Limited (NYSE:CB) by 48.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,855 shares of the financial services provider’s stock after purchasing an additional 2,579 shares during the quarter. Westpac Banking Corp’s holdings in Chubb were worth $2,452,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Kesler Norman & Wride LLC grew its stake in shares of Chubb by 1.9% in the fourth quarter. Kesler Norman & Wride LLC now owns 26,411 shares of the financial services provider’s stock worth $8,243,000 after purchasing an additional 488 shares during the last quarter. Natixis Advisors LLC boosted its position in Chubb by 1.1% during the fourth quarter. Natixis Advisors LLC now owns 758,580 shares of the financial services provider’s stock valued at $236,767,000 after acquiring an additional 8,041 shares during the last quarter. Camden National Bank boosted its position in Chubb by 0.3% during the fourth quarter. Camden National Bank now owns 44,583 shares of the financial services provider’s stock valued at $13,915,000 after acquiring an additional 128 shares during the last quarter. Beto Financial Group LLC bought a new stake in Chubb during the fourth quarter valued at $205,000. Finally, Fielder Capital Group LLC boosted its position in Chubb by 31.0% during the fourth quarter. Fielder Capital Group LLC now owns 1,187 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 281 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

CB stock opened at $313.03 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The stock has a market capitalization of $121.41 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The company’s 50-day moving average is $324.83 and its 200-day moving average is $317.68.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The company had revenue of $14.93 billion for the quarter. Equities research analysts expect that Chubb Limited will post 26.8 EPS for the current fiscal year.

Insider Transactions at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CB shares. Wells Fargo & Company upped their price target on shares of Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. UBS Group reaffirmed a “neutral” rating and set a $340.00 price target on shares of Chubb in a research report on Monday, February 9th. JPMorgan Chase & Co. upped their price target on shares of Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Raymond James Financial upped their price target on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research report on Monday, February 9th. Finally, Mizuho cut their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average target price of $349.90.

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.