LGT Fund Management Co Ltd. Makes New Investment in Chubb Limited (NYSE:CB)

LGT Fund Management Co Ltd. purchased a new stake in shares of Chubb Limited (NYSE:CB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,171 shares of the financial services provider’s stock, valued at approximately $7,186,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Chubb in the 4th quarter valued at about $957,756,000. Capital Research Global Investors grew its holdings in Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares during the period. Capital World Investors raised its holdings in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Confluence Investment Management LLC bought a new stake in Chubb during the first quarter worth approximately $165,932,000. Finally, Bank of Nova Scotia increased its holdings in shares of Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after buying an additional 518,535 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Roth Mkm raised their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley decreased their target price on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada upped their price target on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America raised their price objective on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, JMP Securities increased their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $274.70.

Chubb Price Performance

Shares of Chubb stock opened at $292.20 on Tuesday. Chubb Limited has a 1-year low of $204.15 and a 1-year high of $293.27. The firm’s 50-day moving average price is $269.66 and its two-hundred day moving average price is $261.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $118.03 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 5.65 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. Chubb’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.92 EPS. On average, equities analysts predict that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Insider Activity

In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. The disclosure for this sale can be found here. Insiders have sold 33,981 shares of company stock valued at $9,504,054 over the last ninety days. 0.86% of the stock is currently owned by company insiders.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.