Healthcare of Ontario Pension Plan Trust Fund Acquires 360,300 Shares of Chubb Limited (NYSE:CB)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Chubb Limited (NYSE:CB) by 349.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,300 shares of the financial services provider’s stock after buying an additional 360,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Chubb were worth $118,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. University of Texas Texas AM Investment Management Co. boosted its position in Chubb by 3,826.2% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 6,439 shares of the financial services provider’s stock valued at $1,642,000 after buying an additional 6,275 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Chubb by 557.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,774 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 2,352 shares during the period. Heritage Wealth Management Inc. acquired a new stake in Chubb in the second quarter worth about $3,524,000. Sanctuary Advisors LLC acquired a new position in Chubb during the 2nd quarter valued at about $18,463,000. Finally, Brown Financial Advisors acquired a new position in Chubb during the 2nd quarter valued at about $709,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Bank of America increased 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. JMP Securities lifted their price objective on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley dropped their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $274.70.

Insider Transactions at Chubb

In other Chubb news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of NYSE CB opened at $291.33 on Thursday. The company has a fifty day moving average price of $280.30 and a 200 day moving average price of $265.38. The firm has a market cap of $118.30 billion, a PE ratio of 12.93, a PEG ratio of 5.74 and a beta of 0.66. 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 Limited has a 1-year low of $204.15 and a 1-year high of $294.18.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $13.04 billion. During the same period in the prior year, the firm earned $4.92 earnings per share. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.91 dividend. 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 1.25%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

About Chubb

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.