ZEGA Investments LLC Takes $1.06 Million Position in Chubb Limited $CB

ZEGA Investments LLC acquired a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,125 shares of the financial services provider’s stock, valued at approximately $1,065,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position 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 acquiring an additional 221 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Chubb in the fourth quarter valued at approximately $205,000. Woodline Partners LP lifted its position in 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 purchasing an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 175 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after purchasing an additional 17,155 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president owned 33,749 shares of the company’s stock, 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, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group lifted their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Citizens Jmp reissued a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Barclays set a $387.00 price objective on shares of Chubb in a research note on Tuesday, July 7th. Finally, Atlantic Securities set a $301.00 target price on shares of Chubb in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $361.00.

Chubb Stock Performance

Shares of CB opened at $348.46 on Friday. The company has a 50-day simple moving average of $348.27 and a two-hundred day simple moving average of $334.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $134.44 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.62 and a beta of 0.37. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB) last posted 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 for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the business earned $6.14 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts anticipate that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 payout ratio is currently 14.43%.

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.