Jennison Associates LLC Sells 34,205 Shares of Chubb Limited $CB

Jennison Associates LLC cut its position in Chubb Limited (NYSE:CB) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,383 shares of the financial services provider’s stock after selling 34,205 shares during the quarter. Jennison Associates LLC’s holdings in Chubb were worth $169,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Chubb during the 4th quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD raised its position in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Berkshire Hathaway Inc lifted its stake in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Chubb during the fourth quarter worth $795,378,000. Finally, GQG Partners LLC boosted its holdings in shares of Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after purchasing an additional 1,647,729 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 2.4%

Shares of NYSE:CB opened at $352.07 on Friday. The firm has a market cap of $136.55 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.82 and a beta of 0.40. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $365.29. The business has a fifty day simple moving average of $332.32 and a 200 day simple moving average of $325.68.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.93 billion for the quarter. Analysts predict that Chubb Limited will post 26.75 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio is 14.41%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CB has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price target on Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research upped their price objective on Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Keefe, Bruyette & Woods raised their price objective on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group lifted their target price on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Cantor Fitzgerald boosted their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb has a consensus rating of “Hold” and a consensus target price of $357.73.

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.