MANA Advisors LLC acquired a new stake in shares of Chubb Ltd (NYSE:CB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,326 shares of the financial services provider’s stock, valued at approximately $486,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Financial Services of The Southwest Inc. TX boosted its position in Chubb by 5.5% during the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 6,468 shares of the financial services provider’s stock valued at $945,000 after acquiring an additional 337 shares in the last quarter. Pillar Pacific Capital Management LLC boosted its position in Chubb by 1.0% during the 4th quarter. Pillar Pacific Capital Management LLC now owns 36,179 shares of the financial services provider’s stock valued at $5,286,000 after acquiring an additional 342 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in Chubb by 0.5% during the 3rd quarter. Pittenger & Anderson Inc. now owns 64,337 shares of the financial services provider’s stock valued at $9,171,000 after acquiring an additional 345 shares in the last quarter. Torch Wealth Management LLC lifted its holdings in shares of Chubb by 2.4% during the 4th quarter. Torch Wealth Management LLC now owns 14,893 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 348 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Chubb by 6.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,013 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.
In other news, insider Philip V. Bancroft sold 55,675 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $140.94, for a total value of $7,846,834.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Juan C. Andrade sold 9,373 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the completion of the sale, the insider now directly owns 110,195 shares of the company’s stock, valued at $16,095,081.70. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
Shares of Chubb stock traded down $3.47 during trading hours on Monday, reaching $133.30. 3,314,117 shares of the company were exchanged, compared to its average volume of 1,804,860. Chubb Ltd has a 1 year low of $131.14 and a 1 year high of $157.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $63,473.77, a P/E ratio of 16.60, a P/E/G ratio of 1.28 and a beta of 1.01.
Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.86. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 earnings per share. sell-side analysts predict that Chubb Ltd will post 10.7 earnings per share for the current year.
Chubb declared that its Board of Directors has initiated a share buyback plan on Thursday, December 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Thursday, March 29th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.13%. Chubb’s payout ratio is currently 35.37%.
A number of brokerages recently issued reports on CB. Barclays lifted their price objective on Chubb from $169.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Wells Fargo restated a “buy” rating and set a $169.00 target price on shares of Chubb in a research report on Tuesday, January 30th. Goldman Sachs began coverage on Chubb in a research report on Monday, December 4th. They set a “buy” rating and a $167.00 target price on the stock. Credit Suisse Group restated a “neutral” rating and set a $156.00 target price on shares of Chubb in a research report on Tuesday, December 19th. Finally, Bank of America lifted their price objective on Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $163.31.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include 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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