Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Chubb Ltd (NYSE:CB) by 44.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,422 shares of the financial services provider’s stock after selling 40,300 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Chubb were worth $7,368,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in CB. Financial Gravity Companies Inc. bought a new position in shares of Chubb during the 4th quarter valued at approximately $103,000. Welch Group LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $110,000. Horan Capital Advisors LLC. bought a new position in shares of Chubb during the 3rd quarter valued at approximately $133,000. Covenant Multifamily Offices LLC bought a new position in shares of Chubb during the 4th quarter valued at approximately $135,000. Finally, Zions Bancorporation grew its position in shares of Chubb by 716.3% during the 3rd quarter. Zions Bancorporation now owns 1,151 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 1,010 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.
Chubb Ltd (NYSE:CB) opened at $144.00 on Friday. The company has a market cap of $65,859.20, a P/E ratio of 17.56, a P/E/G ratio of 1.32 and a beta of 1.01. Chubb Ltd has a fifty-two week low of $133.82 and a fifty-two week high of $157.50. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23.
Chubb declared that its Board of Directors has approved a stock buyback plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Thursday, March 29th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 28th. Chubb’s payout ratio is 34.63%.
In other Chubb news, insider Juan C. Andrade sold 9,373 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total value of $1,369,020.38. Following the completion of the transaction, the insider now directly owns 110,195 shares of the company’s stock, valued at approximately $16,095,081.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 95,761 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the completion of the transaction, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on CB shares. Barclays increased their target price on shares of Chubb from $169.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Zacks Investment Research downgraded shares of Chubb from a “buy” rating to a “sell” rating in a report on Friday, January 5th. Wells Fargo & Co set a $169.00 price objective on shares of Chubb and gave the stock a “buy” rating in a report on Wednesday, November 29th. Goldman Sachs Group began coverage on shares of Chubb in a report on Monday, December 4th. They issued a “buy” rating and a $167.00 price objective for the company. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $156.00 price objective on shares of Chubb in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Chubb presently has a consensus rating of “Buy” and a consensus price target of $165.25.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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