tru Independence LLC increased its holdings in shares of Chubb Limited (NYSE:CB) by 703.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 410 shares of the financial services provider’s stock after acquiring an additional 359 shares during the period. tru Independence LLC’s holdings in Chubb were worth $63,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Capstone Triton Financial Group LLC acquired a new position in Chubb in the fourth quarter valued at about $25,000. RWM Asset Management LLC acquired a new position in Chubb in the fourth quarter valued at about $26,000. Arlington Partners LLC acquired a new position in Chubb in the fourth quarter valued at about $27,000. Addison Advisors LLC acquired a new position in Chubb in the fourth quarter valued at about $28,000. Finally, Mcmillion Capital Management Inc. acquired a new position in Chubb in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 85.79% of the company’s stock.
Shares of NYSE:CB opened at $160.95 on Thursday. Chubb Limited has a 52 week low of $93.10 and a 52 week high of $179.01. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $72.46 billion, a PE ratio of 32.06, a PEG ratio of 1.36 and a beta of 0.67. The company has a 50 day moving average price of $165.18 and a two-hundred day moving average price of $148.74.
Chubb announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 3rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Friday, March 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, March 18th. Chubb’s payout ratio is presently 30.86%.
In other news, Vice Chairman Paul J. Krump sold 6,250 shares of the stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $160.06, for a total transaction of $1,000,375.00. Following the completion of the sale, the insider now owns 108,021 shares of the company’s stock, valued at $17,289,841.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Paul J. Krump sold 5,600 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $165.05, for a total transaction of $924,280.00. Following the sale, the insider now directly owns 101,921 shares of the company’s stock, valued at approximately $16,822,061.05. The disclosure for this sale can be found here. Insiders sold 22,087 shares of company stock valued at $3,690,300 in the last ninety days. Insiders own 0.37% of the company’s stock.
A number of research firms have commented on CB. JPMorgan Chase & Co. lowered shares of Chubb from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $152.00 to $155.00 in a research report on Monday, January 4th. Royal Bank of Canada upped their target price on shares of Chubb from $155.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Citigroup upped their target price on shares of Chubb from $178.00 to $187.00 in a research report on Wednesday, March 31st. Bank of America lowered shares of Chubb from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $132.00 to $138.00 in a research report on Tuesday, December 22nd. Finally, Morgan Stanley upped their target price on shares of Chubb from $149.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Chubb has an average rating of “Buy” and a consensus target price of $163.17.
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, 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 in the United States, Canada, and Bermuda.
Further Reading: Understanding Average Daily Trade Volume
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