Cullen Capital Management LLC Purchases New Shares in Chubb Limited $CB

Cullen Capital Management LLC purchased a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 674,693 shares of the financial services provider’s stock, valued at approximately $229,895,000. Chubb accounts for about 2.3% of Cullen Capital Management LLC’s holdings, making the stock its 12th largest position. Cullen Capital Management LLC owned about 0.17% of Chubb at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in shares of Chubb during the second quarter worth about $25,000. Dunhill Financial LLC purchased a new position in Chubb in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its stake in 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 in the last quarter. Frazier Financial Advisors LLC grew its stake in 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 in the last quarter. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in Chubb during the 1st quarter worth approximately $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

CB stock opened at $345.63 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market cap 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 12-month low of $265.30 and a 12-month high of $365.91. The stock’s 50 day simple moving average is $346.25 and its 200 day simple moving average is $333.69.

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, topping the consensus estimate of $6.77 by $0.49. The firm 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 revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business posted $6.14 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given 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 dividend payout ratio (DPR) is presently 14.43%.

Wall Street Analysts Forecast Growth

CB has been the subject of several research analyst reports. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company cut their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research note on Wednesday, July 15th. Finally, HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and raised their price objective for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Two 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $361.00.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated 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 of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated 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 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. Company insiders own 0.37% of the company’s stock.

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.