Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in Chubb Limited $CB

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in shares of Chubb Limited (NYSE:CB) by 23.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,845 shares of the financial services provider’s stock after selling 37,623 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Chubb were worth $40,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CB. Brighton Jones LLC increased its stake in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Chubb during the fourth quarter valued at approximately $205,000. Woodline Partners LP lifted its position in shares of Chubb by 13.0% in the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after acquiring an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after acquiring an additional 17,155 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 1.8%

Shares of CB opened at $359.78 on Friday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $365.29. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $335.55 and a two-hundred day simple moving average of $327.09. The company has a market capitalization of $139.55 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.80 and a beta of 0.40.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating 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 $16.01 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the company posted $6.14 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Chubb Limited will post 27.15 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb’s payout ratio is currently 14.43%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CB. Morgan Stanley boosted their price target on Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Barclays set a $387.00 target price on shares of Chubb in a research note on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $360.09.

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.