Foundation Resource Management Inc. Raises Stake in Chubb Limited (NYSE:CB)

Foundation Resource Management Inc. raised its holdings in shares of Chubb Limited (NYSE:CB) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,154 shares of the financial services provider’s stock after acquiring an additional 80 shares during the period. Foundation Resource Management Inc.’s holdings in Chubb were worth $415,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Oldfield Partners LLP purchased a new stake in Chubb during the 2nd quarter valued at about $100,593,000. Keel Point LLC grew its holdings in shares of Chubb by 9.7% in the second quarter. Keel Point LLC now owns 1,286 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 114 shares during the last quarter. Lantz Financial LLC increased its stake in shares of Chubb by 3.0% in the second quarter. Lantz Financial LLC now owns 21,417 shares of the financial services provider’s stock worth $4,084,000 after buying an additional 633 shares during the period. W.H. Cornerstone Investments Inc. bought a new position in shares of Chubb during the second quarter valued at about $933,000. Finally, Platform Technology Partners grew its stake in shares of Chubb by 0.9% in the second quarter. Platform Technology Partners now owns 7,598 shares of the financial services provider’s stock worth $1,460,000 after purchasing an additional 66 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

CB traded down $1.02 during trading on Tuesday, hitting $213.09. 389,896 shares of the company traded hands, compared to its average volume of 1,787,734. The company has a market cap of $87.52 billion, a PE ratio of 15.38, a P/E/G ratio of 1.17 and a beta of 0.65. Chubb Limited has a 1 year low of $173.78 and a 1 year high of $231.37. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $200.96 and its two-hundred day simple moving average is $197.36.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.51. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $11.24 billion. During the same period in the previous year, the firm posted $4.20 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chubb Limited will post 18.18 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, September 14th. Chubb’s dividend payout ratio is presently 24.71%.

Chubb declared that its Board of Directors has approved a share repurchase program on Monday, June 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CB shares. Piper Sandler dropped their price objective on Chubb from $248.00 to $237.00 in a report on Thursday, July 6th. JPMorgan Chase & Co. raised their target price on Chubb from $241.00 to $250.00 in a research report on Thursday, July 6th. BMO Capital Markets boosted their price objective on shares of Chubb from $200.00 to $210.00 in a research report on Thursday, July 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Chubb in a report on Tuesday, August 29th. Finally, StockNews.com initiated coverage on Chubb in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and a consensus target price of $242.79.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $205.41, for a total transaction of $308,115.00. Following the transaction, the executive vice president now owns 2,335 shares of the company’s stock, valued at approximately $479,632.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chubb news, COO John W. Keogh sold 10,000 shares of Chubb stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the completion of the sale, the chief operating officer now directly owns 265,184 shares of the company’s stock, valued at approximately $53,304,635.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 1,500 shares of Chubb stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $205.41, for a total value of $308,115.00. Following the completion of the sale, the executive vice president now owns 2,335 shares of the company’s stock, valued at $479,632.35. The disclosure for this sale can be found here. Insiders have sold a total of 22,534 shares of company stock valued at $4,645,275 over the last 90 days. 0.37% of the stock is owned by corporate insiders.

Chubb Company Profile

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.