Estabrook Capital Management trimmed its stake in Chubb Ltd (NYSE:CB) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,710 shares of the financial services provider’s stock after selling 2,057 shares during the period. Chubb accounts for about 1.6% of Estabrook Capital Management’s investment portfolio, making the stock its 23rd largest position. Estabrook Capital Management’s holdings in Chubb were worth $8,618,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Chubb by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 37,280,448 shares of the financial services provider’s stock worth $4,982,160,000 after purchasing an additional 417,887 shares in the last quarter. Vanguard Group Inc boosted its stake in Chubb by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after buying an additional 417,887 shares in the last quarter. BlackRock Inc. boosted its stake in Chubb by 2.9% in the 4th quarter. BlackRock Inc. now owns 31,252,910 shares of the financial services provider’s stock valued at $4,037,250,000 after buying an additional 875,406 shares in the last quarter. Capital International Investors boosted its stake in Chubb by 89.7% in the 3rd quarter. Capital International Investors now owns 17,829,438 shares of the financial services provider’s stock valued at $2,382,726,000 after buying an additional 8,430,416 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in Chubb by 4.4% in the 4th quarter. WCM Investment Management LLC now owns 6,998,830 shares of the financial services provider’s stock valued at $904,109,000 after buying an additional 291,892 shares in the last quarter. 87.59% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on CB. Credit Suisse Group lowered Chubb from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $141.00 to $131.00 in a research note on Wednesday, February 27th. Raymond James cut their price objective on Chubb from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 11th. Zacks Investment Research downgraded Chubb from a “hold” rating to a “sell” rating in a research report on Wednesday, February 6th. Wells Fargo & Co set a $160.00 price objective on Chubb and gave the company a “buy” rating in a research report on Friday, January 18th. Finally, Compass Point assumed coverage on Chubb in a research report on Tuesday, January 15th. They issued a “buy” rating and a $165.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $152.70.
Shares of CB opened at $135.40 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. Chubb Ltd has a 52-week low of $119.54 and a 52-week high of $142.54. The firm has a market capitalization of $61.94 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.24 and a beta of 0.81.
Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, February 5th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.09. Chubb had a return on equity of 8.66% and a net margin of 11.72%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the previous year, the company posted $3.17 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Chubb Ltd will post 10.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a $0.73 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.92 annualized dividend and a yield of 2.16%. Chubb’s payout ratio is 30.93%.
Chubb announced that its board has authorized a share repurchase program on Thursday, November 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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