Caisse de depot et placement du Quebec Purchases New Position in Chubb Limited $CB

Caisse de depot et placement du Quebec purchased a new stake in Chubb Limited (NYSE:CB) during the second quarter, HoldingsChannel.com reports. The firm purchased 385,851 shares of the financial services provider’s stock, valued at approximately $131,475,000.

Several other hedge funds also recently modified their holdings of CB. Pointe Capital Management LLC bought a new position in shares of Chubb in the second quarter valued at approximately $497,000. Man Group plc acquired a new stake in Chubb during the 2nd quarter valued at $7,899,000. Councilmark Asset Management LLC bought a new position in Chubb in the 2nd quarter valued at $456,000. First Bancorp Inc ME bought a new position in Chubb in the 2nd quarter valued at $142,000. Finally, Roberts Glore & Co. Inc. IL acquired a new position in Chubb in the second quarter worth $512,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

CB stock opened at $344.08 on Thursday. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $132.75 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. The business’s fifty day moving average is $346.84 and its 200-day moving average is $333.88.

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

Chubb Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s payout ratio is presently 14.43%.

Insider Activity

In other news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was 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 directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on CB shares. JPMorgan Chase & Co. increased their target price on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods lifted their price target on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Wells Fargo & Company reduced their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $361.00.

About Chubb

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.