Clearbridge Investments LLC Increases Stock Position in Chubb Limited $CB

Clearbridge Investments LLC boosted its stake in Chubb Limited (NYSE:CBFree Report) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 92,843 shares of the financial services provider’s stock after buying an additional 2,206 shares during the quarter. Clearbridge Investments LLC’s holdings in Chubb were worth $28,978,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CB. Berkshire Hathaway Inc lifted its stake in Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after purchasing an additional 4,299,111 shares in the last quarter. Norges Bank purchased a new stake in Chubb in the 4th quarter worth $1,081,190,000. AQR Capital Management LLC lifted its stake in Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after purchasing an additional 1,199,963 shares in the last quarter. Woodline Partners LP purchased a new stake in Chubb in the 3rd quarter worth $220,217,000. Finally, Amundi lifted its stake in Chubb by 55.4% in the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after purchasing an additional 693,740 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $324.86 on Wednesday. The company has a market capitalization of $126.00 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.64 and a beta of 0.41. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm’s 50-day moving average is $324.76 and its 200 day moving average is $318.43. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CBGet Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Research analysts predict that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is currently 13.70%.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. BMO Capital Markets upped their target price on shares of Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Wolfe Research upped their target price on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Finally, Barclays upped their target price on shares of Chubb from $374.00 to $375.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $349.43.

Check Out Our Latest Stock Analysis on Chubb

Chubb Profile

(Free Report)

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

See Also

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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