TD Waterhouse Canada Inc. Trims Stake in Chubb Limited $CB

TD Waterhouse Canada Inc. lessened its stake in shares of Chubb Limited (NYSE:CB) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,039 shares of the financial services provider’s stock after selling 10,565 shares during the period. TD Waterhouse Canada Inc.’s holdings in Chubb were worth $14,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CB. Berkshire Hathaway Inc lifted its stake in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after acquiring an additional 1,199,963 shares during the period. Woodline Partners LP purchased a new stake in shares of Chubb in the 3rd quarter worth $220,217,000. Amundi lifted its position in Chubb by 55.4% during the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock valued at $557,493,000 after purchasing an additional 693,740 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 44,877 shares of company stock valued at $14,885,226. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CB shares. Morgan Stanley set a $350.00 target price on Chubb in a research report on Friday, January 16th. Roth Mkm increased their price objective on shares of Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. BMO Capital Markets boosted their target price on shares of Chubb from $283.00 to $326.00 and gave the stock a “market perform” rating in a report on Tuesday, February 10th. Citigroup lifted their target price on Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company decreased their target price on Chubb from $322.00 to $321.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $346.33.

Chubb Stock Down 0.3%

Chubb stock opened at $329.76 on Tuesday. The firm has a market cap of $128.68 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.76 and a beta of 0.49. The business has a fifty day moving average of $329.13 and a two-hundred day moving average of $308.94. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the prior year, the company posted $6.02 earnings per share. Chubb’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts forecast that Chubb Limited will post 26.36 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 13th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is presently 15.08%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.