QCI Asset Management Inc. NY lifted its position in shares of Chubb Ltd (NYSE:CB) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,791 shares of the financial services provider’s stock after purchasing an additional 1,123 shares during the period. QCI Asset Management Inc. NY’s holdings in Chubb were worth $14,729,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CB. California Public Employees Retirement System boosted its holdings in Chubb by 7.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,131,724 shares of the financial services provider’s stock valued at $161,327,000 after purchasing an additional 81,255 shares in the last quarter. First Manhattan Co. boosted its holdings in Chubb by 0.3% in the 4th quarter. First Manhattan Co. now owns 464,260 shares of the financial services provider’s stock valued at $67,842,000 after purchasing an additional 1,324 shares in the last quarter. Alpha Cubed Investments LLC boosted its holdings in Chubb by 5.0% in the 3rd quarter. Alpha Cubed Investments LLC now owns 95,674 shares of the financial services provider’s stock valued at $13,638,000 after purchasing an additional 4,515 shares in the last quarter. Unison Advisors LLC purchased a new stake in Chubb in the 4th quarter valued at approximately $1,158,000. Finally, Epoch Investment Partners Inc. boosted its holdings in Chubb by 0.6% in the 3rd quarter. Epoch Investment Partners Inc. now owns 2,089,344 shares of the financial services provider’s stock valued at $297,836,000 after purchasing an additional 11,569 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.
Shares of Chubb Ltd (NYSE:CB) traded up $1.67 during trading on Wednesday, hitting $146.79. The company had a trading volume of 1,419,121 shares, compared to its average volume of 1,996,315. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.29 and a quick ratio of 0.30. Chubb Ltd has a 1 year low of $133.52 and a 1 year high of $157.50. The firm has a market cap of $67,131.15, a P/E ratio of 17.76, a P/E/G ratio of 1.34 and a beta of 0.95.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.86. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. Chubb’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 EPS. equities research analysts expect that Chubb Ltd will post 10.76 earnings per share for the current fiscal year.
Chubb announced that its Board of Directors has authorized a share repurchase program on Thursday, December 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.84 annualized dividend and a yield of 1.93%. Chubb’s dividend payout ratio (DPR) is presently 34.63%.
In other news, CEO Evan G. Greenberg sold 95,761 shares of the business’s 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 sale, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the sale, the insider now directly owns 201,165 shares of the company’s stock, valued at $30,420,171.30. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
A number of equities research analysts have weighed in on CB shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Chubb in a report on Wednesday, January 31st. Bank of America lifted their price objective on Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Co reissued a “buy” rating and set a $169.00 price target on shares of Chubb in a research note on Tuesday, January 30th. Goldman Sachs Group initiated coverage on Chubb in a research note on Monday, December 4th. They set a “buy” rating and a $167.00 price target on the stock. Finally, Zacks Investment Research raised Chubb from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $163.92.
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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.
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