7,800 Shares in Chubb Limited $CB Acquired by Westpac Banking Corp

Westpac Banking Corp acquired a new position in shares of Chubb Limited (NYSE:CB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,800 shares of the financial services provider’s stock, valued at approximately $2,658,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. Brighton Jones LLC lifted its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Chubb in the fourth quarter worth $205,000. Woodline Partners LP increased its position in shares of Chubb by 13.0% in the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after purchasing an additional 1,449 shares during the period. Sivia Capital Partners LLC raised its stake in Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 175 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after purchasing an additional 17,155 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CB. Keefe, Bruyette & Woods increased their price objective 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. The Goldman Sachs Group raised their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Piper Sandler boosted their target price on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Wells Fargo & Company cut their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Finally, UBS Group increased their price target on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Two equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $361.00.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade 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 can be accessed through this link. 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 sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $341.15 on Friday. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The company 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 firm has a 50 day simple moving average of $345.88 and a 200 day simple moving average of $333.31.

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

Chubb Dividend Announcement

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

Chubb Company 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.