Legal & General Group Plc Acquires New Position in Chubb Limited $CB

Legal & General Group Plc acquired a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,475,458 shares of the financial services provider’s stock, valued at approximately $843,488,000.

A number of other large investors have also recently bought and sold shares of the business. XXEC Inc. acquired a new stake in shares of Chubb during the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc grew its stake in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after buying an additional 2,916,288 shares during the last quarter. BlackRock Inc. acquired a new stake in Chubb in the second quarter worth $9,913,336,000. State Street Corp increased its position in Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after buying an additional 68,553 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Chubb by 25.6% in 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 buying an additional 3,049,987 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s 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 sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CB. Morgan Stanley boosted their price target on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. Cantor Fitzgerald upped their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Piper Sandler raised their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $361.00.

Chubb Trading Up 1.4%

Shares of NYSE:CB opened at $345.63 on Tuesday. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. 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. The company has a 50 day moving average of $346.25 and a 200-day moving average of $333.69. 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 (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. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the prior year, the firm posted $6.14 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

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.