Goldman Sachs Group Inc. cut its holdings in shares of Chubb Limited (NYSE:CB – Get Rating) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,189,231 shares of the financial services provider’s stock after selling 980,281 shares during the period. Goldman Sachs Group Inc. owned 0.51% of Chubb worth $423,200,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CB. Deutsche Bank AG increased its position in shares of Chubb by 14.5% during the fourth quarter. Deutsche Bank AG now owns 3,072,425 shares of the financial services provider’s stock worth $593,931,000 after purchasing an additional 389,990 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Chubb by 1.3% in the 3rd quarter. Wellington Management Group LLP now owns 28,179,660 shares of the financial services provider’s stock valued at $4,888,607,000 after acquiring an additional 364,428 shares during the period. Neuberger Berman Group LLC increased its position in shares of Chubb by 30.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,502,904 shares of the financial services provider’s stock valued at $259,827,000 after acquiring an additional 348,808 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Chubb by 76.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 804,792 shares of the financial services provider’s stock valued at $139,615,000 after acquiring an additional 348,500 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Chubb in the 4th quarter valued at $57,279,000. 88.86% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on CB shares. Wells Fargo & Company upped their target price on Chubb from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. Raymond James upped their target price on Chubb from $240.00 to $250.00 in a research report on Thursday, April 28th. Royal Bank of Canada upped their target price on Chubb from $230.00 to $239.00 and gave the company an “outperform” rating in a research report on Monday, April 4th. JMP Securities upped their price target on shares of Chubb from $210.00 to $225.00 and gave the company a “market outperform” rating in a report on Friday, January 14th. Finally, Morgan Stanley upped their price target on shares of Chubb from $210.00 to $224.00 and gave the company an “equal weight” rating in a report on Friday, February 4th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Buy” and an average target price of $221.80.
Chubb (NYSE:CB – Get Rating) last posted its earnings results on Tuesday, April 26th. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.34. Chubb had a net margin of 19.65% and a return on equity of 10.30%. During the same quarter last year, the company posted $2.52 EPS. Equities analysts predict that Chubb Limited will post 14.92 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, March 18th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, March 17th. Chubb’s dividend payout ratio is presently 17.04%.
In other Chubb news, insider John J. Lupica sold 901 shares of the stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $204.39, for a total value of $184,155.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Paul J. Krump sold 17,258 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $201.74, for a total transaction of $3,481,628.92. The disclosure for this sale can be found here. Insiders sold a total of 56,989 shares of company stock worth $11,959,061 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.
Chubb Company Profile (Get Rating)
Chubb Limited 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.
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