Saudi Central Bank Grows Stock Holdings in Chubb Limited $CB

Saudi Central Bank boosted its stake in shares of Chubb Limited (NYSE:CB) by 77.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,475 shares of the financial services provider’s stock after buying an additional 10,675 shares during the quarter. Saudi Central Bank’s holdings in Chubb were worth $8,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CB. XXEC Inc. purchased a new stake in Chubb during the second quarter worth $228,226,000. Berkshire Hathaway Inc increased its position in shares of Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Chubb in the second quarter valued at $9,913,336,000. State Street Corp raised its stake in shares of Chubb by 0.4% during the 3rd 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 last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CB. Wells Fargo & Company lowered their price objective on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Atlantic Securities set a $301.00 price target on shares of Chubb in a report on Wednesday, July 15th. Mizuho increased their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley raised their price objective on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $361.00.

Insider Activity at Chubb

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

Chubb Trading Down 2.0%

Chubb stock opened at $341.16 on Friday. The stock has a market cap of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.63 and a beta of 0.37. The stock has a 50-day moving average price of $348.27 and a 200 day moving average price of $334.45. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the prior year, the firm earned $6.14 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts predict that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a 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.