Great Lakes Advisors LLC Sells 3,805 Shares of Chubb Limited $CB

Great Lakes Advisors LLC cut its stake in shares of Chubb Limited (NYSE:CBFree Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 131,444 shares of the financial services provider’s stock after selling 3,805 shares during the quarter. Great Lakes Advisors LLC’s holdings in Chubb were worth $41,026,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Berkshire Hathaway Inc lifted its holdings in shares of Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the period. Norges Bank bought a new position in shares of Chubb during the fourth quarter valued at $1,081,190,000. AQR Capital Management LLC lifted its holdings in shares of Chubb by 75.1% during the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after acquiring an additional 1,199,963 shares during the period. Woodline Partners LP bought a new position in shares of Chubb during the third quarter valued at $220,217,000. Finally, Amundi lifted its holdings in shares of Chubb by 55.4% during the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock valued at $557,493,000 after acquiring an additional 693,740 shares during the period. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CB. 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 report on Friday, April 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $315.00 price objective on shares of Chubb in a report on Wednesday, April 22nd. 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 report on Monday. Jefferies Financial Group cut their price target on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Finally, Bank of America cut their price target on Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Two investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $349.43.

Get Our Latest Stock Report on CB

Insider Activity

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated 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 directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the business’s stock in a transaction dated 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 directly owned 25,468 shares of the company’s stock, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Chubb stock opened at $328.14 on Friday. The stock has a 50-day simple moving average of $324.92 and a 200 day simple moving average of $318.88. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The stock has a market capitalization of $127.27 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.69 and a beta of 0.41.

Chubb (NYSE:CBGet Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion during the quarter. On average, research analysts anticipate that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.2%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is presently 13.70%.

About Chubb

(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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