Point72 Europe London LLP Acquires New Shares in Chubb Limited (NYSE:CB)

Point72 Europe London LLP acquired a new stake in Chubb Limited (NYSE:CB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,300 shares of the financial services provider’s stock, valued at approximately $2,017,000.

Other hedge funds have also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new position in Chubb in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Chubb in the 4th quarter valued at about $29,000. Strategic Financial Concepts LLC acquired a new stake in Chubb in the 4th quarter valued at about $30,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Human Investing LLC acquired a new stake in Chubb in the 4th quarter valued at about $36,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CB. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research note on Wednesday, March 5th. Raymond James reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. UBS Group upped their target price on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Barclays cut their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company boosted their target price on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.86.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares in the company, valued at $22,297,652.88. The trade was a 11.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 over the last three months. 0.77% of the stock is owned by insiders.

Chubb Stock Performance

NYSE:CB opened at $292.02 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a market cap of $117.02 billion, a P/E ratio of 12.85, a P/E/G ratio of 3.36 and a beta of 0.57. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The firm’s 50 day moving average is $288.37 and its two-hundred day moving average is $280.64.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.33%. Chubb’s dividend payout ratio is currently 17.52%.

Chubb declared that its Board of Directors has approved a share buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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