First Trust Advisors LP Grows Stake in Chubb Limited $CB

First Trust Advisors LP increased its position in Chubb Limited (NYSE:CB) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,605,984 shares of the financial services provider’s stock after acquiring an additional 80,186 shares during the quarter. First Trust Advisors LP’s holdings in Chubb were worth $523,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CB. Norges Bank purchased a new position in Chubb in the fourth quarter worth about $1,081,190,000. Price T Rowe Associates Inc. MD increased its position in shares of Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. Berkshire Hathaway Inc lifted its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Chubb in the fourth quarter worth approximately $795,378,000. Finally, GQG Partners LLC boosted its holdings in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after buying an additional 1,647,729 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $355.04 on Wednesday. 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 $365.29. The company has a market capitalization of $137.71 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.83 and a beta of 0.40. The firm’s 50 day simple moving average is $333.63 and its two-hundred day simple moving average is $326.34.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.78 by $0.48. The firm had revenue of $14.71 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $6.14 earnings per share. Research analysts expect that Chubb Limited will post 26.77 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $1.02 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.1%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is currently 14.41%.

Insiders Place Their Bets

In other Chubb 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 approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Chubb News Roundup

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb reported Q2 earnings of $7.26 per share, topping consensus estimates and improving from $6.14 a year ago, which suggests stronger-than-expected profitability. Chubb (CB) Tops Q2 Earnings Estimates
• Positive Sentiment: The company said core operating income rose 14.6% and consolidated net premiums written increased 3.6% to $14.7 billion, signaling solid underwriting and premium growth. Chubb Reports Second Quarter Per Share Net Income…
• Positive Sentiment: The property and casualty combined ratio of 83.8% indicates strong underwriting discipline, which is favorable for insurers. Chubb Reports Second Quarter Per Share Net Income…
• Neutral Sentiment: JPMorgan raised its price target on Chubb to $370 while keeping a neutral rating, reflecting improved earnings expectations but not a strong change in stance. Benzinga report on JPMorgan price target increase
• Neutral Sentiment: Barclays reiterated a hold rating ahead of earnings, suggesting some analysts remained cautious despite the company’s strong fundamentals. Barclays Remains a Hold on Chubb (CB)

Wall Street Analysts Forecast Growth

A number of analysts have commented on CB shares. Citizens Jmp upped their target price on shares of Chubb from $365.00 to $400.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Morgan Stanley boosted their price objective on shares of Chubb from $330.00 to $340.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Wells Fargo & Company upped their price objective on Chubb from $333.00 to $358.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Wolfe Research raised their target price on Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, Bank of America lowered their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $359.09.

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.