Oakview Capital Management L.P. Has $2.37 Million Holdings in Chubb Limited (NYSE:CB)

Oakview Capital Management L.P. lessened its position in Chubb Limited (NYSE:CB) by 59.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,286 shares of the financial services provider’s stock after selling 13,680 shares during the period. Chubb accounts for 7.5% of Oakview Capital Management L.P.’s investment portfolio, making the stock its 6th biggest position. Oakview Capital Management L.P.’s holdings in Chubb were worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Chubb in the 2nd quarter worth approximately $459,000. Legal & General Group Plc boosted its holdings in Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after acquiring an additional 104,986 shares in the last quarter. MBB Public Markets I LLC increased its position in Chubb by 2,580.8% during the 2nd quarter. MBB Public Markets I LLC now owns 29,650 shares of the financial services provider’s stock valued at $7,563,000 after purchasing an additional 28,544 shares during the period. Daymark Wealth Partners LLC increased its position in Chubb by 15.1% during the 2nd quarter. Daymark Wealth Partners LLC now owns 24,601 shares of the financial services provider’s stock valued at $6,275,000 after purchasing an additional 3,228 shares during the period. Finally, Delta Investment Management LLC bought a new position in Chubb in the 2nd quarter worth $347,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CB. Barclays assumed coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target on the stock. William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Morgan Stanley dropped their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price target on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised their price objective on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $274.70.

Insider Buying and Selling

In other news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Chubb news, insider John J. Lupica sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’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 sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by insiders.

Chubb Price Performance

Shares of NYSE CB opened at $289.62 on Friday. The company has a 50 day moving average of $278.57 and a 200 day moving average of $264.64. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The firm has a market cap of $117.60 billion, a P/E ratio of 12.85, a PEG ratio of 5.74 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the prior year, the company posted $4.92 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, research analysts expect that Chubb Limited will post 21.21 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s payout ratio is 16.16%.

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.