Ridgewood Investments LLC lessened its stake in shares of Chubb Ltd (NYSE:CB) by 33.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,430 shares of the financial services provider’s stock after selling 721 shares during the quarter. Ridgewood Investments LLC’s holdings in Chubb were worth $223,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CB. Arden Trust Co acquired a new stake in shares of Chubb during the third quarter worth about $464,000. Zeke Capital Advisors LLC lifted its position in shares of Chubb by 13.2% during the third quarter. Zeke Capital Advisors LLC now owns 9,300 shares of the financial services provider’s stock worth $1,501,000 after purchasing an additional 1,081 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Chubb by 688.0% during the third quarter. Public Employees Retirement Association of Colorado now owns 668,381 shares of the financial services provider’s stock worth $107,903,000 after purchasing an additional 583,559 shares in the last quarter. Putnam FL Investment Management Co. lifted its position in shares of Chubb by 2.2% during the third quarter. Putnam FL Investment Management Co. now owns 58,469 shares of the financial services provider’s stock worth $9,439,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Harfst & Associates Inc. lifted its position in shares of Chubb by 7.0% during the second quarter. Harfst & Associates Inc. now owns 4,454 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 291 shares in the last quarter. 90.03% of the stock is owned by institutional investors.
CB has been the topic of several research reports. Goldman Sachs Group cut shares of Chubb from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $159.00 to $147.00 in a research report on Tuesday, January 7th. William Blair reissued an “underperform” rating on shares of Chubb in a research report on Wednesday, October 30th. Wells Fargo & Co reissued a “buy” rating and set a $180.00 price target on shares of Chubb in a research report on Tuesday. Raymond James increased their price target on shares of Chubb from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Credit Suisse Group raised shares of Chubb from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $145.00 to $165.00 in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $161.55.
In related news, CEO Evan G. Greenberg sold 157,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $153.49, for a total value of $24,226,094.15. Following the sale, the chief executive officer now owns 1,155,061 shares of the company’s stock, valued at $177,290,312.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,060 shares of the firm’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 transaction of $2,126,996.80. Following the completion of the sale, the executive vice president now directly owns 185,375 shares in the company, valued at approximately $28,043,530. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,658 shares of company stock worth $29,210,599. 0.47% of the stock is owned by corporate insiders.
Shares of NYSE:CB opened at $151.29 on Thursday. The firm’s 50 day moving average price is $153.55 and its 200 day moving average price is $153.77. The stock has a market cap of $68.32 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. Chubb Ltd has a fifty-two week low of $128.58 and a fifty-two week high of $162.44. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.
Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.06. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.82 billion. Chubb had a net margin of 10.48% and a return on equity of 8.60%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 earnings per share. On average, equities analysts anticipate that Chubb Ltd will post 10.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.00 annualized dividend and a yield of 1.98%. Chubb’s dividend payout ratio (DPR) is 31.78%.
Chubb announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 21st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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