Metropolitan Life Insurance Co. NY reduced its position in shares of Chubb Ltd (NYSE:CB) by 67.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,951 shares of the financial services provider’s stock after selling 149,052 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Chubb were worth $10,514,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new position in shares of Chubb in the fourth quarter worth approximately $103,000. Welch Group LLC purchased a new position in Chubb during the fourth quarter valued at approximately $110,000. Focused Wealth Management Inc purchased a new position in Chubb during the fourth quarter valued at approximately $117,000. Horan Capital Advisors LLC. purchased a new position in Chubb during the third quarter valued at approximately $133,000. Finally, Covenant Multifamily Offices LLC purchased a new position in Chubb during the fourth quarter valued at approximately $135,000. 89.20% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Philip V. Bancroft sold 55,675 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $140.94, for a total transaction of $7,846,834.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Juan C. Andrade sold 9,373 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total value of $1,369,020.38. Following the transaction, the insider now owns 110,195 shares in the company, valued at approximately $16,095,081.70. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
Shares of Chubb stock opened at $134.13 on Friday. Chubb Ltd has a one year low of $131.14 and a one year high of $157.50. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $63,009.68, a price-to-earnings ratio of 16.70, a PEG ratio of 1.32 and a beta of 1.01.
Chubb (NYSE:CB) last posted its quarterly earnings data 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. Chubb had a net margin of 11.87% and a return on equity of 7.52%. The firm 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 company posted $2.72 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. sell-side analysts anticipate that Chubb Ltd will post 10.26 EPS for the current year.
Chubb declared that its board has approved a stock buyback plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Thursday, March 29th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 annualized dividend and a yield of 2.12%. Chubb’s dividend payout ratio (DPR) is presently 35.37%.
Several research firms have recently issued reports on CB. Royal Bank of Canada restated a “buy” rating and issued a $165.00 price target on shares of Chubb in a research report on Wednesday. Zacks Investment Research lowered shares of Chubb from a “buy” rating to a “sell” rating in a research note on Friday, January 5th. Deutsche Bank dropped their price objective on shares of Chubb from $149.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, March 29th. Argus began coverage on shares of Chubb in a research note on Friday. They set a “hold” rating for the company. Finally, Wells Fargo reissued a “buy” rating and set a $169.00 target price on shares of Chubb in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Chubb has an average rating of “Buy” and an average target price of $162.92.
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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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