118,585 Shares in Chubb Limited $CB Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 118,585 shares of the financial services provider’s stock, valued at approximately $40,407,000.

A number of other hedge funds have also recently bought and sold shares of the company. Berkshire Hathaway Inc increased its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares during the period. State Street Corp lifted its stake in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after acquiring an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Chubb by 25.6% during the fourth 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 acquiring an additional 3,049,987 shares during the period. GQG Partners LLC lifted its stake in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after acquiring an additional 1,647,729 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’s 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 completion of the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CB. Mizuho lifted their price objective on Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and upped their target price for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Finally, Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $360.09.

Chubb Stock Performance

Shares of NYSE:CB opened at $343.80 on Friday. The firm’s 50 day simple moving average is $344.31 and its 200 day simple moving average is $331.99. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a market capitalization of $132.64 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Chubb 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.