Legato Capital Management LLC Decreases Stock Position in Chubb Limited $CB

Legato Capital Management LLC trimmed its stake in shares of Chubb Limited (NYSE:CB) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the financial services provider’s stock after selling 2,200 shares during the quarter. Legato Capital Management LLC’s holdings in Chubb were worth $2,497,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Berkshire Hathaway Inc raised its holdings in Chubb by 15.9% in 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 in the last quarter. State Street Corp grew its holdings in Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after acquiring an additional 68,553 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after purchasing an additional 427,512 shares during the last quarter. Bank of America Corp DE increased its position in shares of Chubb by 11.6% in the 2nd 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 last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Chubb by 75.1% in 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 purchasing an additional 1,199,963 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $328.03 on Friday. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm has a market capitalization of $127.23 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.69 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The company’s fifty day moving average price is $326.50 and its 200 day moving average price is $315.81.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, sell-side analysts predict that Chubb Limited will post 26.78 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is 13.70%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CB shares. HSBC boosted their target price on shares of Chubb from $362.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Citigroup lifted their price target on Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Mizuho lowered their price objective on Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Evercore increased their price objective on Chubb from $347.00 to $349.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group raised their target price on Chubb from $368.00 to $372.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $349.33.

Insider Transactions at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the transaction, the director owned 25,468 shares in the company, valued at $8,386,612.40. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

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.