Retirement Network acquired a new position in Chubb Ltd (NYSE:CB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 190 shares of the financial services provider’s stock, valued at approximately $29,000.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Chubb by 0.7% in the 2nd quarter. BlackRock Inc. now owns 31,379,308 shares of the financial services provider’s stock valued at $4,621,858,000 after acquiring an additional 224,656 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Chubb by 9.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,332 shares of the financial services provider’s stock worth $4,896,000 after buying an additional 2,658 shares during the last quarter. Douglas Lane & Associates LLC raised its position in Chubb by 5.5% in the third quarter. Douglas Lane & Associates LLC now owns 44,244 shares of the financial services provider’s stock worth $7,143,000 after acquiring an additional 2,298 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Chubb by 13.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 107,277 shares of the financial services provider’s stock worth $17,318,000 after acquiring an additional 12,866 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Chubb by 22.4% during the 3rd quarter. Signaturefd LLC now owns 5,025 shares of the financial services provider’s stock worth $811,000 after acquiring an additional 919 shares in the last quarter. 90.04% of the stock is currently owned by institutional investors.
NYSE:CB traded down $1.41 during trading hours on Friday, hitting $163.42. 496,743 shares of the company were exchanged, compared to its average volume of 1,724,403. The stock has a market capitalization of $74.03 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.65. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a one year low of $129.89 and a one year high of $167.74. The company has a fifty day simple moving average of $155.00 and a 200 day simple moving average of $154.70.
Chubb (NYSE:CB) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.18. Chubb had a net margin of 12.61% and a return on equity of 8.59%. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same quarter in the previous year, the firm posted $2.02 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts predict that Chubb Ltd will post 10.98 earnings per share for the current fiscal year.
Chubb declared that its board has approved a stock repurchase program on Thursday, November 21st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of analysts recently issued reports on the stock. Wells Fargo & Co increased their price target on shares of Chubb from $180.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Goldman Sachs Group lowered Chubb from a “neutral” rating to a “sell” rating and lowered their price target for the company from $159.00 to $147.00 in a report on Tuesday, January 7th. William Blair reiterated an “underperform” rating on shares of Chubb in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on Chubb from $157.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Evercore ISI initiated coverage on Chubb in a research report on Thursday, October 17th. They set an “in-line” rating and a $149.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Chubb currently has an average rating of “Hold” and an average price target of $161.50.
In related news, CEO Evan G. Greenberg sold 157,835 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $153.49, for a total transaction of $24,226,094.15. Following the completion of the transaction, the chief executive officer now owns 1,155,061 shares in the company, valued at approximately $177,290,312.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $155.39, for a total transaction of $264,163.00. Following the transaction, the executive vice president now owns 167,965 shares of the company’s stock, valued at approximately $26,100,081.35. The disclosure for this sale can be found here. Insiders have sold a total of 163,517 shares of company stock worth $25,140,956 in the last quarter. Corporate insiders own 0.47% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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