APG Asset Management N.V. Purchases 93,600 Shares of Chubb Limited (NYSE:CB)

APG Asset Management N.V. raised its holdings in shares of Chubb Limited (NYSE:CB) by 50.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 280,286 shares of the financial services provider’s stock after acquiring an additional 93,600 shares during the quarter. APG Asset Management N.V.’s holdings in Chubb were worth $66,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. AQR Capital Management LLC boosted its holdings in Chubb by 30.9% during the second quarter. AQR Capital Management LLC now owns 1,162,039 shares of the financial services provider’s stock worth $296,413,000 after purchasing an additional 274,588 shares during the last quarter. Sfmg LLC boosted its stake in shares of Chubb by 6.8% during the 2nd quarter. Sfmg LLC now owns 1,641 shares of the financial services provider’s stock worth $419,000 after buying an additional 104 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Chubb by 59.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,766 shares of the financial services provider’s stock valued at $19,837,000 after acquiring an additional 28,902 shares in the last quarter. Gateway Advisory LLC acquired a new stake in shares of Chubb in the second quarter valued at about $350,000. Finally, Murchinson Ltd. bought a new stake in Chubb during the second quarter worth about $797,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of NYSE CB opened at $289.84 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $117.69 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 5.74 and a beta of 0.66. The stock’s fifty day moving average price is $277.53 and its two-hundred day moving average price is $264.23. Chubb Limited has a one year low of $204.15 and a one year high of $294.18.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter in the previous year, the business posted $4.92 earnings per share. Chubb’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts forecast that Chubb Limited will post 21.21 EPS for the current year.

Chubb Announces Dividend

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

Insider Transactions at Chubb

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on CB shares. Bank of America raised their price target on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley lowered their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada upped their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $274.70.

Chubb 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.