Carnegie Capital Asset Management LLC raised its stake in shares of Chubb Limited (NYSE: CB – Get Rating) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,003 shares of the financial services provider’s stock after buying an additional 311 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Chubb were worth $ 3,209,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in shares of Chubb by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,535 shares of the financial services provider’s stock worth $ 490,000 after purchasing an additional 108 shares during the period. Victory Capital Management Inc. increased its stake in shares of Chubb by 71.5% in the fourth quarter. Victory Capital Management Inc. now owns 90,734 shares of the financial services provider’s stock worth $ 17,540,000 after purchasing an additional 37,838 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Chubb in the fourth quarter worth about $ 41,798,000. Diligent Investors LLC bought a new position in shares of Chubb in the fourth quarter worth about $ 233,000. Finally, United Asset Strategies Inc. bought a new position in shares of Chubb in the fourth quarter worth about $ 403,000. Institutional investors own 88.86% of the company stock.
In other Chubb news, Director Theodore Shasta sold 812 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 209.18, for a total transaction of $ 169,854.16. Following the completion of the transaction, the director now owns 15,488 shares in the company, valued at approximately $ 3,239,779.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 15,933 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $ 211.83, for a total value of $ 3,375,087.39. Following the completion of the transaction, the executive vice president now owns 65,667 shares of the company stock, valued at approximately $ 13,910,240.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,824 shares of company stock valued at $ 29,574,333. Corporate insiders own 0.39% of the company stock.
A number of equities research analysts recently weighed in on CB shares. Barclays dropped their target price on Chubb from $ 250.00 to $ 249.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Royal Bank of Canada lifted their target price on Chubb from $ 230.00 to $ 239.00 and gave the stock an “outperform” rating in a research report on Monday, April 4th. Wells Fargo & Company lifted their price objective on Chubb from $ 230.00 to $ 240.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Citigroup began coverage on Chubb in a report on Monday, May 23rd. They set a “neutral” rating and a $ 209.00 price objective on the stock. Finally, Raymond James lifted their price objective on Chubb from $ 240.00 to $ 250.00 in a report on Thursday, April 28th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company stock. According to MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $ 225.14.
CB stock opened at $ 189.47 on Wednesday. The business’s fifty day moving average is $ 206.37 and its 200-day moving average is $ 203.24. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. The company has a market cap of $ 80.28 billion, a P / E ratio of 10.09, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73. Chubb Limited has a twelve month low of $ 157.19 and a twelve month high of $ 218.99.
Chubb (NYSE: CB – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $ 3.82 EPS for the quarter, beating analysts’ consensus estimates of $ 3.52 by $ 0.30. Chubb had a net margin of 19.65% and a return on equity of 10.30%. The business had revenue of $ 9.65 billion during the quarter, compared to analysts’ expectations of $ 9.95 billion. During the same quarter in the prior year, the company earned $ 2.52 EPS. Research analysts anticipate that Chubb Limited will post 14.96 earnings per share for the current fiscal year.
Chubb announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 19th that permits the company to repurchase $ 2.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be issued a dividend of $ 0.83 per share. This represents a $ 3.32 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, June 16th. This is a boost from Chubb’s previous quarterly dividend of $ 0.80. Chubb’s dividend payout ratio is 17.68%.
Chubb Profile: (Get Rating)
Chubb Limited provides insurance and reinsurance products worldwide. The company North America Commercial P&C Insurance segment offers commercial property, casualty, workers’ compensation, package policies, risk management, financial 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.
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