OMERS ADMINISTRATION Corp Takes Position in Chubb Limited $CB

OMERS ADMINISTRATION Corp purchased a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 23,000 shares of the financial services provider’s stock, valued at approximately $7,837,000.

Several other institutional investors also recently bought and sold shares of the business. Osmosis Investment Management UK Ltd bought a new stake in Chubb during the 2nd quarter valued at $4,241,000. Sanctuary Advisors LLC bought a new position in shares of Chubb in the 2nd quarter worth $28,213,000. Covington Investment Advisors Inc. bought a new position in shares of Chubb in the 2nd quarter worth $778,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Chubb during the 2nd quarter worth $44,543,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Chubb during the 2nd quarter worth $4,614,000. 83.81% of the stock is owned by hedge funds and other 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 stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated 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 of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.

Chubb Stock Performance

Shares of Chubb stock opened at $345.63 on Tuesday. The company has a 50 day moving average price of $346.25 and a 200 day moving average price of $333.69. The firm has a market capitalization of $133.34 billion, a P/E ratio of 12.23, a PEG ratio of 1.65 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the firm earned $6.14 EPS. Chubb’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

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

Wall Street Analyst Weigh In

CB has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Cantor Fitzgerald lifted their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Mizuho boosted their price objective on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and increased their target price 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 given a Sell rating to the stock. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average target price of $361.00.

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.