Corient Private Wealth LLC raised its stake in Chubb Limited (NYSE:CB – Free Report) by 46.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 590,999 shares of the financial services provider’s stock after purchasing an additional 186,481 shares during the quarter. Corient Private Wealth LLC’s holdings in Chubb were worth $184,492,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CB. Brighton Jones LLC lifted its holdings in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new position in Chubb in the 4th quarter valued at $205,000. Woodline Partners LP increased its stake in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after buying an additional 1,449 shares during the period. Sivia Capital Partners LLC increased its stake in Chubb by 14.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after buying an additional 175 shares during the period. Finally, Sei Investments Co. raised its position in Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after buying an additional 17,155 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Insiders Place Their Bets
In other Chubb news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.
Chubb Price Performance
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The business had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, equities analysts expect 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. Shareholders 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 a positive change from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.3%. Chubb’s dividend payout ratio (DPR) is presently 14.41%.
Analysts Set New Price Targets
Several analysts have recently commented on CB shares. JPMorgan Chase & Co. raised their target price on shares of Chubb from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $373.00 to $374.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, June 12th. Wolfe Research lifted their price objective on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, HSBC boosted their target price on Chubb from $362.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus price target of $349.10.
View Our Latest Research Report on CB
Chubb 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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