Wealthfront Advisers LLC Invests $29.12 Million in Chubb Limited $CB

Wealthfront Advisers LLC acquired a new stake in Chubb Limited (NYSE:CB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 85,452 shares of the financial services provider’s stock, valued at approximately $29,117,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in Chubb in the second quarter worth approximately $25,000. Dunhill Financial LLC bought a new position in shares of Chubb during the 2nd quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth approximately $29,000. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $345.56 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The stock’s 50 day moving average is $345.10 and its 200-day moving average is $332.77. The firm has a market capitalization of $133.32 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $6.14 EPS. Sell-side analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

CB has been the topic of a number of research reports. Citizens Jmp reiterated a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. BMO Capital Markets raised their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group lifted their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Atlantic Securities set a $301.00 price objective on shares of Chubb in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $360.09.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’s 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 sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% 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. 0.37% of the stock is owned by company insiders.

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.