Usca Ria LLC lifted its position in shares of Chubb Ltd (NYSE:CB) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,423 shares of the financial services provider’s stock after buying an additional 174 shares during the quarter. Usca Ria LLC’s holdings in Chubb were worth $4,891,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Chubb by 0.7% during the 2nd quarter. BlackRock Inc. now owns 31,379,308 shares of the financial services provider’s stock worth $4,621,858,000 after buying an additional 224,656 shares during the last quarter. WCM Investment Management LLC raised its stake in Chubb by 10.7% in the 3rd quarter. WCM Investment Management LLC now owns 16,091,448 shares of the financial services provider’s stock valued at $2,597,802,000 after purchasing an additional 1,558,674 shares during the last quarter. Boston Partners raised its stake in Chubb by 4.8% in the 3rd quarter. Boston Partners now owns 6,141,522 shares of the financial services provider’s stock valued at $990,942,000 after purchasing an additional 279,429 shares during the last quarter. California Public Employees Retirement System raised its stake in Chubb by 10.8% in the 3rd quarter. California Public Employees Retirement System now owns 3,710,833 shares of the financial services provider’s stock valued at $599,077,000 after purchasing an additional 362,956 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Chubb by 84.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,848,447 shares of the financial services provider’s stock valued at $419,548,000 after purchasing an additional 1,304,154 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.
Chubb stock traded down $0.66 during midday trading on Monday, hitting $151.35. 3,615 shares of the company were exchanged, compared to its average volume of 1,399,240. The company’s fifty day moving average price is $153.91 and its 200-day moving average price is $153.97. The company has a market cap of $68.89 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. Chubb Ltd has a fifty-two week low of $128.58 and a fifty-two week high of $162.44.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, December 19th. Chubb’s payout ratio is 31.78%.
Chubb announced that its board has initiated a stock buyback plan on Thursday, November 21st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Several research analysts recently weighed in on CB shares. Evercore ISI assumed coverage on shares of Chubb in a research note on Thursday, October 17th. They issued an “in-line” rating and a $149.00 target price for the company. Citigroup assumed coverage on Chubb in a report on Tuesday, January 21st. They issued a “neutral” rating and a $154.00 price target for the company. Goldman Sachs Group cut 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. Credit Suisse Group upgraded Chubb from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $145.00 to $165.00 in a report on Tuesday, November 5th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $180.00 price target on shares of Chubb in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $160.92.
In other Chubb news, Director Michael G. Atieh sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $151.12, for a total value of $226,680.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,060 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $151.28, for a total value of $2,126,996.80. Following the completion of the transaction, the executive vice president now directly owns 185,375 shares in the company, valued at $28,043,530. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,658 shares of company stock worth $29,210,599. 0.47% of the stock is currently owned by corporate insiders.
Chubb Company Profile
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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