Oldfield Partners LLP Invests $100.59 Million in Chubb Limited (NYSE:CB)

Oldfield Partners LLP bought a new position in Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 522,400 shares of the financial services provider’s stock, valued at approximately $100,593,000. Chubb makes up about 15.6% of Oldfield Partners LLP’s investment portfolio, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Carolinas Wealth Consulting LLC increased its stake in shares of Chubb by 10.1% in the first quarter. Carolinas Wealth Consulting LLC now owns 555 shares of the financial services provider’s stock valued at $119,000 after buying an additional 51 shares during the period. Procyon Advisors LLC increased its position in shares of Chubb by 5.0% during the first quarter. Procyon Advisors LLC now owns 1,130 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 54 shares during the last quarter. Mission Wealth Management LP increased its position in shares of Chubb by 0.5% during the first quarter. Mission Wealth Management LP now owns 10,614 shares of the financial services provider’s stock valued at $2,061,000 after acquiring an additional 55 shares during the last quarter. Zions Bancorporation N.A. increased its position in shares of Chubb by 4.9% during the first quarter. Zions Bancorporation N.A. now owns 1,168 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 55 shares during the last quarter. Finally, Goldstein Advisors LLC increased its position in shares of Chubb by 2.4% during the first quarter. Goldstein Advisors LLC now owns 2,343 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Activity at Chubb

In related 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 owns 265,184 shares of the company’s stock, valued at $53,304,635.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chubb news, COO John W. Keogh sold 10,000 shares of Chubb stock in a transaction dated 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 owns 265,184 shares of the company’s stock, valued at $53,304,635.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Annmarie T. Hagan sold 1,187 shares of Chubb stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $211.81, for a total value of $251,418.47. Following the completion of the transaction, the chief accounting officer now owns 13,234 shares in the company, valued at approximately $2,803,093.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,534 shares of company stock valued at $4,645,275. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CB. Piper Sandler decreased their price target on Chubb from $248.00 to $237.00 in a research report on Thursday, July 6th. Citigroup raised their target price on Chubb from $229.00 to $235.00 in a research report on Thursday, July 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 target price on shares of Chubb in a research report on Tuesday, August 29th. JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Chubb in a research report on Wednesday, July 26th. Finally, Morgan Stanley raised their target price on Chubb from $192.00 to $209.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $242.79.

Chubb Price Performance

NYSE:CB traded down $0.73 during trading hours on Tuesday, hitting $213.38. 314,459 shares of the company’s stock traded hands, compared to its average volume of 1,787,437. The firm has a market cap of $87.64 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.17 and a beta of 0.65. Chubb Limited has a 52 week low of $173.78 and a 52 week high of $231.37. The business’s fifty day simple moving average is $200.96 and its two-hundred day simple moving average is $197.36. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.51. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $11.24 billion. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $4.20 earnings per share. On average, research analysts anticipate that Chubb Limited will post 18.18 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has initiated a share repurchase plan on Monday, June 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Chubb Announces Dividend

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

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