34,249,183 Shares in Chubb Limited $CB Bought by Berkshire Hathaway Inc

Berkshire Hathaway Inc bought a new position in Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 34,249,183 shares of the financial services provider’s stock, valued at approximately $11,670,067,000. Chubb makes up about 3.9% of Berkshire Hathaway Inc’s investment portfolio, making the stock its 8th largest holding. Berkshire Hathaway Inc owned 8.88% of Chubb at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new stake in shares of Chubb during the second quarter worth about $25,000. Dunhill Financial LLC acquired a new position in shares of Chubb in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC raised its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Frazier Financial Advisors LLC boosted its position in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter worth approximately $29,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Cantor Fitzgerald raised their price target on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Stock Performance

Shares of CB stock opened at $344.08 on Thursday. The stock has a market capitalization of $132.75 billion, a PE ratio of 12.17, a PEG ratio of 1.66 and a beta of 0.39. The business’s 50 day simple moving average is $346.84 and its 200 day simple moving average is $333.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

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

Chubb Dividend Announcement

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

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.