Allworth Financial LP increased its position in Chubb Limited (NYSE:CB – Get Rating) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,056 shares of the financial services provider’s stock after purchasing an additional 152 shares during the period. Allworth Financial LP’s holdings in Chubb were worth $1,557,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its stake in shares of Chubb by 99.9% in the third quarter. Los Angeles Capital Management LLC now owns 870,209 shares of the financial services provider’s stock worth $158,274,000 after acquiring an additional 434,799 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Chubb by 57.6% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,186,647 shares of the financial services provider’s stock valued at $215,827,000 after buying an additional 433,479 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Chubb by 507.5% during the third quarter. Assenagon Asset Management S.A. now owns 451,115 shares of the financial services provider’s stock valued at $82,049,000 after buying an additional 376,859 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Chubb during the third quarter valued at $64,747,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Chubb by 6.8% during the third 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 during the last quarter. 87.12% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on CB. Citigroup dropped their price objective on Chubb from $236.00 to $229.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 8th. Atlantic Securities increased their price objective on Chubb from $240.00 to $250.00 in a research report on Wednesday, February 22nd. Jefferies Financial Group cut Chubb from a “buy” rating to a “hold” rating and increased their price objective for the company from $241.00 to $246.00 in a research report on Monday, January 9th. Roth Capital reaffirmed a “buy” rating on shares of Chubb in a research report on Wednesday, February 1st. Finally, Barclays lowered their target price on Chubb from $258.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday, February 2nd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.92.
Chubb Stock Down 2.1 %
Chubb (NYSE:CB – Get Rating) last posted its quarterly earnings data 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 return on equity of 12.51% and a net margin of 12.35%. The company had revenue of $11.43 billion during the quarter, compared to the consensus estimate of $11.58 billion. During the same period last year, the business earned $3.81 EPS. On average, equities research analysts predict that Chubb Limited will post 17.4 earnings per share for the current year.
Chubb Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Friday, March 17th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, March 16th. Chubb’s dividend payout ratio (DPR) is currently 26.52%.
Insider Transactions at Chubb
In other news, Director Theodore Shasta sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $189.73, for a total value of $189,730.00. Following the transaction, the director now owns 14,488 shares of the company’s stock, valued at $2,748,808.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO John W. Keogh sold 23,871 shares of Chubb 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 sale, the chief operating officer now owns 272,062 shares of the company’s stock, valued at approximately $57,726,115.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore Shasta sold 1,000 shares of Chubb stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $189.73, for a total value of $189,730.00. Following the sale, the director now directly owns 14,488 shares in the company, valued at approximately $2,748,808.24. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Chubb Company Profile
Chubb Ltd. operates as 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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