CI Investments Inc. Acquires 1,906 Shares of Chubb Limited $CB

CI Investments Inc. raised its stake in shares of Chubb Limited (NYSE:CB) by 125.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,428 shares of the financial services provider’s stock after purchasing an additional 1,906 shares during the quarter. CI Investments Inc.’s holdings in Chubb were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CB. CBIZ Investment Advisory Services LLC grew its holdings in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC raised its stake in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb in the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in Chubb during the 4th quarter worth approximately $31,000. Finally, Ares Financial Consulting LLC acquired a new position in Chubb during the 4th quarter worth about $32,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CB. JPMorgan Chase & Co. raised their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Piper Sandler boosted their price target on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Wolfe Research lifted their target price on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday. Finally, HSBC downgraded Chubb from a “buy” rating to a “hold” rating and lifted their target price for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued 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 company has an average rating of “Hold” and an average target price of $360.09.

Chubb Stock Performance

CB opened at $359.78 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.36 and a quick ratio of 0.28. The business has a fifty day simple moving average of $335.55 and a 200 day simple moving average of $327.09. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $365.29. The company has a market capitalization of $139.55 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.77 and a beta of 0.40.

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 company had revenue of $16.01 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter last year, the firm earned $6.14 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Research analysts expect that Chubb Limited will post 27.08 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a dividend of $1.02 per share. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s payout ratio is 14.43%.

Insider Buying and Selling at Chubb

In other 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 completion of the sale, the chief operating officer directly 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 Securities & Exchange Commission, which is accessible through this link. 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.