Berkshire Asset Management LLC PA Has $14.16 Million Holdings in Chubb Ltd (CB)

Berkshire Asset Management LLC PA grew its holdings in shares of Chubb Ltd (NYSE:CB) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,874 shares of the financial services provider’s stock after purchasing an additional 12,542 shares during the period. Berkshire Asset Management LLC PA’s holdings in Chubb were worth $14,156,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Chubb by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 35,320,686 shares of the financial services provider’s stock worth $5,134,923,000 after acquiring an additional 838,652 shares in the last quarter. WCM Investment Management CA boosted its position in shares of Chubb by 105.1% during the 3rd quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock worth $1,587,644,000 after acquiring an additional 5,707,734 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Chubb by 6.0% during the 3rd quarter. American Century Companies Inc. now owns 3,963,751 shares of the financial services provider’s stock worth $565,033,000 after acquiring an additional 225,475 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Chubb by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 2,502,609 shares of the financial services provider’s stock worth $356,732,000 after acquiring an additional 84,700 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Chubb by 23.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,404,461 shares of the financial services provider’s stock worth $349,561,000 after acquiring an additional 449,500 shares in the last quarter. Hedge funds and other institutional investors own 88.19% of the company’s stock.

In related news, CEO Evan G. Greenberg sold 95,761 shares of Chubb stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the completion of the transaction, the chief executive officer now owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Bennett Medini sold 5,180 shares of Chubb stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $150.48, for a total transaction of $779,486.40. Following the transaction, the insider now directly owns 91,775 shares of the company’s stock, valued at approximately $13,810,302. The disclosure for this sale can be found here. Insiders have sold 148,282 shares of company stock valued at $21,882,535 in the last ninety days. Insiders own 0.43% of the company’s stock.

A number of analysts have weighed in on CB shares. Wells Fargo & Co restated a “buy” rating and issued a $164.00 target price on shares of Chubb in a research report on Thursday, September 28th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $153.00 target price on shares of Chubb in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Chubb from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. ValuEngine lowered shares of Chubb from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Citigroup raised their target price on shares of Chubb from $167.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $161.33.

Chubb Ltd (CB) opened at $147.54 on Thursday. The stock has a market cap of $68,490.00, a price-to-earnings ratio of 17.69, a PEG ratio of 1.37 and a beta of 0.96. Chubb Ltd has a 52 week low of $127.15 and a 52 week high of $156.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30.

Chubb (NYSE:CB) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.11. The firm had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.14 billion. Chubb had a net margin of 12.15% and a return on equity of 7.22%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 earnings per share. sell-side analysts forecast that Chubb Ltd will post 7.22 EPS for the current fiscal year.

Chubb declared that its Board of Directors has authorized a share repurchase program on Thursday, December 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, December 28th. Chubb’s payout ratio is currently 34.05%.

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About Chubb

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

Institutional Ownership by Quarter for Chubb (NYSE:CB)

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