CIBC World Markets Inc. bought a new stake in Chubb Ltd (NYSE:CB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,852 shares of the financial services provider’s stock, valued at approximately $855,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. WCM Investment Management CA boosted its holdings in shares of Chubb by 105.1% in the third quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock worth $1,587,644,000 after buying an additional 5,707,734 shares during the period. APG Asset Management N.V. grew its position in shares of Chubb by 247.8% in the 4th quarter. APG Asset Management N.V. now owns 1,678,420 shares of the financial services provider’s stock valued at $204,253,000 after purchasing an additional 1,195,771 shares during the period. Sound Shore Management Inc. CT acquired a new position in shares of Chubb in the 3rd quarter valued at approximately $138,481,000. Janus Henderson Group PLC grew its position in shares of Chubb by 1,149.7% in the 2nd quarter. Janus Henderson Group PLC now owns 774,960 shares of the financial services provider’s stock valued at $112,664,000 after purchasing an additional 712,950 shares during the period. Finally, Cornerstone Investment Partners LLC grew its position in shares of Chubb by 88.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 892,920 shares of the financial services provider’s stock valued at $130,482,000 after purchasing an additional 419,487 shares during the period. Hedge funds and other institutional investors own 87.40% of the company’s stock.
Several brokerages recently issued reports on CB. Royal Bank of Canada reiterated a “buy” rating and issued a $170.00 price objective on shares of Chubb in a research report on Wednesday, January 31st. Bank of America boosted their price objective on Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Co reaffirmed a “buy” rating and set a $169.00 price target on shares of Chubb in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Chubb from a “buy” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $156.00 price objective on shares of Chubb in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Chubb presently has an average rating of “Buy” and an average price target of $163.92.
In related news, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the completion of the transaction, the insider now directly owns 201,165 shares in the company, valued at $30,420,171.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 95,761 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.
Shares of Chubb Ltd (NYSE CB) traded up $1.12 during mid-day trading on Wednesday, reaching $146.24. The company’s stock had a trading volume of 929,514 shares, compared to its average volume of 1,988,223. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.29. Chubb Ltd has a 1-year low of $133.52 and a 1-year high of $157.50. The company has a market capitalization of $67,131.15, a P/E ratio of 17.68, a P/E/G ratio of 1.34 and a beta of 0.95.
Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.86. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. Chubb’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.72 earnings per share. research analysts predict that Chubb Ltd will post 10.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. Chubb’s dividend payout ratio (DPR) is currently 34.63%.
Chubb announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 21st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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