Wescott Financial Advisory Group LLC purchased a new stake in Chubb Limited (NYSE:CB – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,080 shares of the financial services provider’s stock, valued at approximately $1,898,000.
Several other institutional investors have also bought and sold shares of CB. Berkshire Hathaway Inc boosted 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 valued at $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. Norges Bank acquired a new stake in Chubb in the 4th quarter valued at $1,081,190,000. AQR Capital Management LLC boosted 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 valued at $785,468,000 after buying an additional 1,199,963 shares in the last quarter. Woodline Partners LP acquired a new stake in Chubb in the 3rd quarter valued at $220,217,000. Finally, Amundi boosted 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 valued at $557,493,000 after buying an additional 693,740 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Analyst Ratings Changes
CB has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Mizuho cut their price objective on Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. The Goldman Sachs Group cut their price objective on Chubb from $372.00 to $362.00 and set a “buy” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a research report on Monday, March 23rd. Finally, Evercore lifted their price objective on Chubb from $347.00 to $349.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.43.
Insiders Place Their Bets
In other news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Olivier Steimer sold 2,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the sale, the director owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.
Chubb Trading Down 0.7%
Shares of CB opened at $328.14 on Friday. The stock has a fifty day moving average price of $324.92 and a two-hundred day moving average price of $318.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a market cap of $127.27 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.69 and a beta of 0.41.
Chubb (NYSE:CB – Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Analysts predict that Chubb Limited will post 26.8 EPS for the current fiscal year.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is presently 13.70%.
Chubb Company Profile
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.
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