Acadian Asset Management LLC Acquires New Stake in Chubb Limited (NYSE:CB)

Acadian Asset Management LLC acquired a new position in shares of Chubb Limited (NYSE:CB) in the second quarter, HoldingsChannel.com reports. The fund acquired 11,498 shares of the financial services provider’s stock, valued at approximately $2,932,000.

A number of other large investors also recently bought and sold shares of CB. Pathway Financial Advisers LLC acquired a new position in shares of Chubb during the first quarter worth about $25,000. Beacon Capital Management LLC boosted its holdings in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in Chubb in the 2nd quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Chubb during the 2nd quarter worth approximately $28,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Chubb during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In related news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chubb news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares of the company’s stock, valued at $29,676,685.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The disclosure for this sale can be found here. Insiders sold a total of 94,836 shares of company stock valued at $27,055,900 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. JMP Securities upped their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, Bank of America increased their target price on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $274.70.

Chubb Stock Performance

Shares of CB opened at $288.87 on Friday. Chubb Limited has a 1 year low of $204.15 and a 1 year high of $294.18. The company’s 50 day simple moving average is $272.40 and its 200 day simple moving average is $261.92. The company has a market capitalization of $116.68 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 5.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.92 earnings per share. On average, sell-side analysts predict that Chubb Limited will post 21.2 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.