Philadelphia Financial Management of San Francisco LLC Buys Shares of 30,300 Chubb Limited $CB

Philadelphia Financial Management of San Francisco LLC purchased a new stake in Chubb Limited (NYSE:CB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,300 shares of the financial services provider’s stock, valued at approximately $10,324,422,000. Chubb accounts for 2.1% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after acquiring an additional 5,225 shares during the period. National Pension Service raised its holdings in shares of Chubb by 24.4% in the 4th quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock valued at $358,462,000 after purchasing an additional 225,515 shares during the period. Harbour Investments Inc. lifted its stake in Chubb by 884.1% in the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 8,947 shares during the last quarter. Bessemer Group Inc. lifted its stake in Chubb by 16.8% in the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in Chubb in the 4th quarter valued at about $3,486,000. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CB shares. Cantor Fitzgerald boosted their price target on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. HSBC cut Chubb from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $373.00 in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Finally, Mizuho increased their price target on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chubb has a consensus rating of “Hold” and a consensus price target of $361.00.

Chubb Stock Up 0.3%

Chubb stock opened at $344.08 on Thursday. The company’s 50-day moving average price is $346.84 and its two-hundred day moving average price is $333.88. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market cap of $132.75 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.66 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.14 EPS. As a group, analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s payout ratio is 14.43%.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

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.