Deutsche Bank AG raised its position in Chubb Limited (NYSE:CB) by 3.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,432,740 shares of the financial services provider’s stock after buying an additional 77,529 shares during the quarter. Deutsche Bank AG owned about 0.55% of Chubb worth $386,660,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Chubb by 1.0% in the first quarter. BlackRock Inc. now owns 29,761,553 shares of the financial services provider’s stock valued at $4,701,433,000 after acquiring an additional 306,381 shares in the last quarter. Geode Capital Management LLC lifted its position in Chubb by 2.0% in the first quarter. Geode Capital Management LLC now owns 7,090,606 shares of the financial services provider’s stock valued at $1,117,020,000 after purchasing an additional 139,461 shares during the period. Ameriprise Financial Inc. boosted its holdings in Chubb by 3.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,999,276 shares of the financial services provider’s stock valued at $787,950,000 after purchasing an additional 189,004 shares in the last quarter. Bank of New York Mellon Corp increased its position in Chubb by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,784,871 shares of the financial services provider’s stock worth $755,867,000 after purchasing an additional 37,957 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Chubb by 6.0% during the 1st quarter. Nuveen Asset Management LLC now owns 4,740,657 shares of the financial services provider’s stock worth $748,882,000 after buying an additional 269,798 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.
A number of research analysts recently weighed in on the company. JMP Securities upped their price objective on Chubb from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Argus raised shares of Chubb from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Friday, July 30th. Wolfe Research began coverage on shares of Chubb in a research note on Monday, August 16th. They issued an “outperform” rating and a $231.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chubb from $142.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 12th. Finally, Royal Bank of Canada lifted their price target on shares of Chubb from $184.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Buy” and a consensus target price of $180.06.
Chubb (NYSE:CB) last issued its quarterly earnings results on Monday, July 26th. The financial services provider reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.61. The business had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $8.35 billion. Chubb had a net margin of 20.42% and a return on equity of 8.70%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.56) earnings per share. As a group, research analysts predict that Chubb Limited will post 12.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 8th. Shareholders of record on Friday, September 17th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, September 16th. This represents a $3.20 annualized dividend and a yield of 1.80%. Chubb’s dividend payout ratio (DPR) is presently 43.78%.
Chubb declared that its Board of Directors has authorized a share repurchase plan on Monday, July 19th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Juan Luis Ortega sold 3,650 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $180.92, for a total transaction of $660,358.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 30,000 shares of the business’s stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $186.61, for a total transaction of $5,598,300.00. Following the sale, the executive vice president now directly owns 144,197 shares of the company’s stock, valued at $26,908,602.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,188 shares of company stock worth $10,920,772. Corporate insiders own 0.41% of the company’s stock.
Chubb Company Profile
Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.
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