Madison Investment Holdings Inc. lowered its stake in shares of Chubb Ltd (NYSE:CB) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,892 shares of the financial services provider’s stock after selling 4,371 shares during the period. Madison Investment Holdings Inc.’s holdings in Chubb were worth $12,844,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Chubb in the second quarter valued at $204,000. Fisher Asset Management LLC purchased a new stake in Chubb in the third quarter valued at $200,000. APG Asset Management N.V. raised its position in Chubb by 400.4% in the third quarter. APG Asset Management N.V. now owns 482,649 shares of the financial services provider’s stock valued at $68,802,000 after purchasing an additional 386,200 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Chubb by 67.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,079 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 1,641 shares during the period. Finally, Huntington National Bank purchased a new stake in Chubb in the third quarter valued at $45,292,000. 86.10% of the stock is currently owned by institutional investors.
Shares of Chubb Ltd (CB) opened at $144.01 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $66,416.25, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.33 and a beta of 0.95. Chubb Ltd has a 1-year low of $133.82 and a 1-year high of $157.50.
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, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.86. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the business earned $2.72 EPS. Chubb’s revenue was up 1.6% on a year-over-year basis. research analysts forecast 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 stock buyback program on Thursday, December 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 annualized dividend and a yield of 1.97%. Chubb’s dividend payout ratio (DPR) is 34.63%.
In other Chubb news, insider Juan C. Andrade sold 9,373 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the sale, the insider now owns 110,195 shares in the company, valued at approximately $16,095,081.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the chief executive officer now owns 1,367,229 shares in the company, valued at approximately $199,013,853.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,745 shares of company stock worth $18,122,347. 0.43% of the stock is owned by company insiders.
A number of research firms have commented on CB. Barclays lifted their target price on Chubb from $169.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada reiterated a “buy” rating and issued a $170.00 price objective on shares of Chubb in a 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 report on Wednesday, January 31st. Wells Fargo & Co reiterated a “buy” rating and issued a $169.00 price objective on shares of Chubb in a report on Tuesday, January 30th. Finally, Zacks Investment Research downgraded Chubb from a “buy” rating to a “sell” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $165.25.
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Chubb Company Profile
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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