Legal & General Group Plc Purchases Shares of 2,475,458 Chubb Limited $CB

Legal & General Group Plc acquired a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,475,458 shares of the financial services provider’s stock, valued at approximately $843,488,000. Legal & General Group Plc owned approximately 0.64% of Chubb as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. XXEC Inc. acquired a new stake in Chubb in the 2nd quarter valued at $228,226,000. Berkshire Hathaway Inc raised its position in 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 purchasing an additional 2,916,288 shares during the period. BlackRock Inc. purchased a new position in Chubb in the second quarter valued at about $9,913,336,000. State Street Corp lifted its stake in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Chubb by 25.6% during the fourth 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 purchasing an additional 3,049,987 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of a number of recent research reports. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods boosted their price target on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald increased their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Mizuho increased their price objective 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. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $361.00.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on 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 in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the business’s 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 owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $345.63 on Tuesday. The firm has a fifty day moving average of $346.25 and a two-hundred day moving average of $333.69. The firm has a market cap of $133.34 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last issued 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 business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the business posted $6.14 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. 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 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.