Quantitative Investment Management LLC purchased a new stake in Chubb Ltd (NYSE:CB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,500 shares of the financial services provider’s stock, valued at approximately $8,256,000.
Several other hedge funds also recently bought and sold shares of the company. AMP Capital Investors Ltd purchased a new stake in shares of Chubb in the fourth quarter valued at approximately $22,055,000. Aristotle Atlantic Partners LLC purchased a new position in Chubb in the fourth quarter worth approximately $429,000. Aristotle Capital Management LLC grew its position in Chubb by 5.2% in the fourth quarter. Aristotle Capital Management LLC now owns 2,121,793 shares of the financial services provider’s stock worth $310,058,000 after acquiring an additional 104,702 shares during the period. Profund Advisors LLC grew its position in Chubb by 29.2% in the fourth quarter. Profund Advisors LLC now owns 14,281 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 3,225 shares during the period. Finally, MANA Advisors LLC purchased a new position in Chubb in the fourth quarter worth approximately $486,000. Institutional investors and hedge funds own 88.31% of the company’s stock.
In other Chubb news, CEO Evan G. Greenberg sold 95,761 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the sale, the chief executive officer now directly owns 1,367,229 shares in the company, valued at $199,013,853.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the insider now owns 110,195 shares in the company, valued at $16,095,081.70. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.86. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.72 earnings per share. analysts anticipate that Chubb Ltd will post 10.76 EPS for the current year.
Chubb announced that its board has authorized a share buyback plan on Thursday, December 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Thursday, March 29th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 28th. Chubb’s dividend payout ratio is presently 34.63%.
Several research analysts recently weighed in on the company. Barclays increased their price objective on Chubb from $169.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $170.00 price objective on shares of Chubb in a research report on Wednesday, January 31st. Bank of America increased their price objective on Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Co reiterated a “buy” rating and issued a $169.00 price objective on shares of Chubb in a research report on Tuesday, January 30th. Finally, Zacks Investment Research lowered Chubb from a “buy” rating to a “sell” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $165.25.
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Chubb Company Profile
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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