Connor Clark & Lunn Investment Management Ltd. Raises Stake in Chubb Limited $CB

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Chubb Limited (NYSE:CB) by 259.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,165 shares of the financial services provider’s stock after purchasing an additional 3,730 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chubb were worth $1,496,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Modern Wealth Management LLC raised its stake in shares of Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 143 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Chubb by 14.1% in the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock valued at $20,655,000 after purchasing an additional 8,828 shares during the period. Trifecta Capital Advisors LLC lifted its stake in Chubb by 764.7% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 130 shares during the last quarter. Jump Financial LLC grew its holdings in Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after purchasing an additional 7,065 shares during the period. Finally, Legato Capital Management LLC increased its position in Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after buying an additional 5,582 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Trading Down 0.2%

CB opened at $295.75 on Monday. The company has a market cap of $116.39 billion, a P/E ratio of 12.34, a PEG ratio of 2.74 and a beta of 0.58. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $280.40 and its 200-day moving average is $280.92. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $14.87 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same quarter last year, the business posted $5.72 EPS. Chubb’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the transaction, the insider owned 90,600 shares in the company, valued at approximately $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president owned 60,593 shares in the company, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays raised their price target on Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $300.00 price target on shares of Chubb in a research note on Monday, October 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $309.00 price target on shares of Chubb in a report on Monday, October 27th. BMO Capital Markets restated a “market perform” rating and set a $283.00 price objective on shares of Chubb in a report on Thursday, October 23rd. Finally, Citigroup upped their target price on Chubb from $326.00 to $331.00 and gave the company a “buy” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $307.79.

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