Legal & General Group Plc Acquires 104,986 Shares of Chubb Limited (NYSE:CB)

Legal & General Group Plc lifted its stake in shares of Chubb Limited (NYSE:CB) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,679,874 shares of the financial services provider’s stock after acquiring an additional 104,986 shares during the quarter. Legal & General Group Plc owned approximately 0.91% of Chubb worth $938,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Gryphon Financial Partners LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $597,000. Parallel Advisors LLC lifted its holdings in Chubb by 2.0% in the fourth quarter. Parallel Advisors LLC now owns 4,929 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 96 shares during the period. Focus Financial Network Inc. ADV bought a new stake in Chubb during the fourth quarter valued at $577,000. Roundview Capital LLC raised its position in shares of Chubb by 10.3% in the 4th quarter. Roundview Capital LLC now owns 5,204 shares of the financial services provider’s stock worth $1,176,000 after acquiring an additional 486 shares in the last quarter. Finally, Catalytic Wealth RIA LLC bought a new position in shares of Chubb in the 4th quarter worth about $663,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the sale, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John J. Lupica sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock valued at $24,874,208. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $289.84 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50-day moving average of $277.97 and a 200-day moving average of $264.40. Chubb Limited has a one year low of $204.15 and a one year high of $294.18. The company has a market cap of $117.69 billion, a P/E ratio of 12.86, a P/E/G ratio of 5.74 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same quarter last year, the business posted $4.92 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.21 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CB shares. JMP Securities lifted their target price on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Bank of America boosted their target price on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada lifted their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley cut their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average 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.