Commerzbank Aktiengesellschaft FI Takes $3.43 Million Position in Chubb Limited $CB

Commerzbank Aktiengesellschaft FI bought a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,069 shares of the financial services provider’s stock, valued at approximately $3,431,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Chubb in the 4th quarter valued at $1,081,190,000. Bank of New York Mellon Corp acquired a new position in Chubb during the second quarter worth $1,042,549,000. Price T Rowe Associates Inc. MD lifted its holdings in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Berkshire Hathaway Inc lifted its holdings in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Chubb in the fourth quarter valued at about $795,378,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 0.7%

Shares of NYSE CB opened at $341.24 on Tuesday. The stock has a market cap of $131.65 billion, a PE ratio of 12.07, a P/E/G ratio of 1.70 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a 50-day moving average of $344.69 and a 200 day moving average of $332.47.

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 analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion for 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 business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $6.14 EPS. As a group, sell-side analysts predict that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend 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%.

Analyst Ratings Changes

CB has been the subject of a number of research reports. Citizens Jmp reissued a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Barclays set a $387.00 price objective on Chubb in a research note on Tuesday, July 7th. Finally, Cantor Fitzgerald raised their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average target price of $360.09.

Insider Activity at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on 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 transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

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.