GQG Partners LLC Invests $4.25 Billion in Chubb Limited $CB

GQG Partners LLC bought a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,473,178 shares of the financial services provider’s stock, valued at approximately $4,250,113,000. Chubb makes up approximately 7.9% of GQG Partners LLC’s portfolio, making the stock its 2nd largest position. GQG Partners LLC owned about 3.23% of Chubb at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CB. IMG Wealth Management Inc. purchased a new position in Chubb in the second quarter worth $25,000. Dunhill Financial LLC bought a new position in Chubb in the 2nd quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC increased its position in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Chubb during the 1st quarter worth $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Chubb Stock Down 0.5%

CB stock opened at $341.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $131.62 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.65 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The stock has a fifty day moving average of $345.88 and a 200-day moving average of $333.31.

Chubb (NYSE:CB) last announced 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. The business had revenue of $11.97 billion for 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 business posted $6.14 EPS. As a group, equities research analysts predict that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CB shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. The Goldman Sachs Group boosted their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Mizuho increased their target price on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.