Centaurus Financial Inc. grew its holdings in shares of Chubb Limited (NYSE:CB – Get Rating) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,810 shares of the financial services provider’s stock after buying an additional 205 shares during the period. Centaurus Financial Inc.’s holdings in Chubb were worth $1,057,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in shares of Chubb by 6.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,282,359 shares of the financial services provider’s stock valued at $960,755,000 after buying an additional 338,463 shares in the last quarter. Legal & General Group Plc raised its position in shares of Chubb by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 3,498,521 shares of the financial services provider’s stock worth $687,743,000 after purchasing an additional 134,676 shares during the last quarter. Boston Partners raised its position in shares of Chubb by 3.9% in the 3rd quarter. Boston Partners now owns 2,741,428 shares of the financial services provider’s stock worth $501,001,000 after purchasing an additional 103,984 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chubb by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,126,486 shares of the financial services provider’s stock worth $454,856,000 after purchasing an additional 64,887 shares during the last quarter. Finally, Amundi raised its position in shares of Chubb by 0.6% in the 2nd quarter. Amundi now owns 2,067,756 shares of the financial services provider’s stock worth $379,060,000 after purchasing an additional 12,600 shares during the last quarter. Institutional investors own 87.12% of the company’s stock.
Analysts Set New Price Targets
CB has been the subject of several recent analyst reports. Barclays lowered their price target on Chubb from $258.00 to $255.00 and set an “overweight” rating for the company in a research report on Thursday, February 2nd. Citigroup lowered their price target on Chubb from $236.00 to $229.00 and set a “neutral” rating for the company in a research report on Wednesday, February 8th. MKM Partners lifted their price target on Chubb from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, December 5th. BMO Capital Markets assumed coverage on Chubb in a research report on Thursday, January 19th. They issued a “market perform” rating and a $225.00 price target for the company. Finally, Royal Bank of Canada boosted their target price on Chubb from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and a consensus target price of $244.36.
Chubb Price Performance
Chubb (NYSE:CB – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $4.05 EPS for the quarter, missing the consensus estimate of $4.22 by ($0.17). Chubb had a net margin of 12.35% and a return on equity of 12.51%. The business had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $11.58 billion. During the same period in the previous year, the company earned $3.81 EPS. Equities research analysts anticipate that Chubb Limited will post 17.4 earnings per share for the current year.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Friday, March 17th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, March 16th. Chubb’s payout ratio is currently 26.52%.
Insider Activity
In related news, COO John W. Keogh sold 23,871 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the completion of the transaction, the chief operating officer now directly owns 272,062 shares in the company, valued at approximately $57,726,115.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.
About Chubb
Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: 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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