Ieq Capital LLC Takes $67.42 Million Position in Chubb Limited $CB

Ieq Capital LLC acquired a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 197,868 shares of the financial services provider’s stock, valued at approximately $67,421,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CB. BlackRock Inc. bought a new stake in Chubb in the 2nd quarter valued at $9,913,336,000. Norges Bank bought a new position in shares of Chubb during the 4th quarter worth about $1,081,190,000. Bank of New York Mellon Corp bought a new position in shares of Chubb during the 2nd quarter worth about $1,042,549,000. Price T Rowe Associates Inc. MD raised its position in shares of Chubb by 25.6% during the fourth 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 buying an additional 3,049,987 shares during the last quarter. Finally, Berkshire Hathaway Inc raised its position in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CB. BMO Capital Markets boosted their price objective on Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. The Goldman Sachs Group lifted their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley boosted their price target on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and raised their price objective for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Trading Down 0.5%

Shares of CB stock opened at $341.15 on Friday. The company has a market capitalization of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.66 and a beta of 0.39. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $345.88 and a 200 day moving average price of $333.31.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.14 earnings per share. Research analysts forecast that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on 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 completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.

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.