12,473,178 Shares in Chubb Limited $CB Purchased by GQG Partners LLC

GQG Partners LLC bought a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 12,473,178 shares of the financial services provider’s stock, valued at approximately $4,250,113,000. Chubb accounts for 7.9% of GQG Partners LLC’s portfolio, making the stock its 2nd biggest position.

Other hedge funds have also added to or reduced their stakes in the company. XXEC Inc. purchased a new stake in shares of Chubb in the second quarter worth about $228,226,000. Berkshire Hathaway Inc grew its stake in 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 acquiring an additional 2,916,288 shares in the last quarter. BlackRock Inc. bought a new stake in Chubb during the 2nd quarter worth approximately $9,913,336,000. State Street Corp lifted its stake in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Chubb by 25.6% in the 4th 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 purchasing an additional 3,049,987 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, 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. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $354.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Wells Fargo & Company dropped their price target on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research report on Wednesday, July 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $361.00.

Chubb Price Performance

Shares of Chubb stock opened at $341.15 on Friday. The firm has a market capitalization of $131.62 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The business’s 50-day moving average price is $345.88 and its 200-day moving average price is $333.31.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.14 EPS. Sell-side analysts forecast that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

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

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.