Plato Investment Management Ltd Acquires New Holdings in Chubb Limited $CB

Plato Investment Management Ltd bought a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 7,410 shares of the financial services provider’s stock, valued at approximately $2,510,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its position in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC raised its position in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb during the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC purchased a new stake in Chubb in the 4th quarter valued at approximately $31,000. Finally, Kelleher Financial Advisors purchased a new stake in Chubb in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Trading Up 0.0%

Shares of Chubb stock opened at $343.80 on Monday. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The business’s fifty day moving average is $344.31 and its two-hundred day moving average is $332.19. 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 firm has a market cap of $132.64 billion, a PE ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.14 earnings per share. Analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on CB. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $354.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Mizuho increased their price objective on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. HSBC cut Chubb from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Finally, Barclays set a $387.00 target price on shares of Chubb in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and an average target price of $360.09.

Insider Activity

In other news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

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.