Prana Capital Management LP Increases Stock Position in Chubb Limited $CB

Prana Capital Management LP lifted its position in shares of Chubb Limited (NYSE:CB) by 171.9% during the third quarter, Holdings Channel reports. The institutional investor owned 510,010 shares of the financial services provider’s stock after purchasing an additional 322,448 shares during the period. Chubb makes up approximately 4.8% of Prana Capital Management LP’s investment portfolio, making the stock its 3rd biggest position. Prana Capital Management LP’s holdings in Chubb were worth $143,950,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CB. Berkshire Hathaway Inc raised its holdings in Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the period. Norges Bank bought a new position in shares of Chubb in the second quarter worth about $1,195,137,000. AQR Capital Management LLC boosted its stake in shares of Chubb by 75.1% in the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $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 during the third quarter worth about $220,217,000. Finally, Amundi grew its position in shares of Chubb by 55.4% during the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after purchasing an additional 693,740 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb 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 of the company’s stock, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.86% of the stock is owned by company insiders.

Chubb Stock Performance

NYSE:CB opened at $330.97 on Wednesday. The company has a market cap of $129.13 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 2.07 and a beta of 0.46. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The stock’s 50 day simple moving average is $320.28 and its two-hundred day simple moving average is $300.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

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 return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same period in the prior year, the company earned $6.02 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 15.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CB shares. Cantor Fitzgerald boosted their price target on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. BMO Capital Markets lifted their price objective on shares of Chubb from $283.00 to $326.00 and gave the company a “market perform” rating in a research report on Tuesday, February 10th. Citigroup lifted their price objective on shares of Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Finally, Mizuho raised their target price on shares of Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $340.81.

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.