Chubb Limited (NYSE:CB) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Chubb Limited (NYSE:CB) by 59.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,766 shares of the financial services provider’s stock after buying an additional 28,902 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Chubb were worth $19,837,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in Chubb during the first quarter worth about $25,000. Beacon Capital Management LLC raised its position in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Chilton Capital Management LLC acquired a new position in Chubb in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new position in Chubb in the second quarter worth approximately $28,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb in the fourth quarter valued at $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 shares were 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 directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 in the last ninety days. 0.86% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of CB opened at $289.79 on Wednesday. The firm has a market capitalization of $117.67 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 5.59 and a beta of 0.66. The firm’s fifty day simple moving average is $277.07 and its 200-day simple moving average is $264.04. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the business earned $4.92 EPS. Chubb’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts forecast that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.91 dividend. 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 (DPR) is 16.16%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CB shares. Keefe, Bruyette & Woods increased their price target on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America lifted 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. JMP Securities upped their price target on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb has a consensus rating of “Hold” and a consensus price target of $274.70.

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.