674,693 Shares in Chubb Limited $CB Bought by Cullen Capital Management LLC

Cullen Capital Management LLC bought a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 674,693 shares of the financial services provider’s stock, valued at approximately $229,895,000. Chubb accounts for approximately 2.3% of Cullen Capital Management LLC’s holdings, making the stock its 12th largest position.

A number of other hedge funds also recently added to or reduced their stakes in CB. XXEC Inc. bought a new position in shares of Chubb during the second quarter worth about $228,226,000. BlackRock Inc. acquired a new stake in shares of Chubb in the 2nd quarter worth about $9,913,336,000. GQG Partners LLC bought a new stake in Chubb in the 2nd quarter valued at about $4,250,113,000. Norges Bank bought a new stake in Chubb in the 4th quarter valued at about $1,081,190,000. Finally, Bank of New York Mellon Corp bought a new position in Chubb in the 2nd quarter worth about $1,042,549,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Evercore restated an “outperform” rating and issued a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $361.00.

Chubb Trading Up 1.4%

Shares of CB stock opened at $345.63 on Tuesday. The stock has a 50-day simple moving average of $346.25 and a 200 day simple moving average of $333.69. The stock has a market capitalization of $133.34 billion, a P/E ratio of 12.23, a P/E/G 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 company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS 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 firm had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the previous year, the business earned $6.14 earnings per share. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s payout ratio is presently 14.43%.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate 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.