Calamos Wealth Management LLC reduced its position in Chubb Ltd (NYSE:CB) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,445 shares of the financial services provider’s stock after selling 92 shares during the quarter. Calamos Wealth Management LLC’s holdings in Chubb were worth $381,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Relyea Zuckerberg Hanson LLC bought a new position in Chubb in the fourth quarter worth about $768,000. Sabal Trust CO raised its holdings in Chubb by 3.9% in the fourth quarter. Sabal Trust CO now owns 188,421 shares of the financial services provider’s stock worth $29,329,000 after purchasing an additional 7,131 shares in the last quarter. Family Legacy Inc. raised its holdings in Chubb by 13.8% in the fourth quarter. Family Legacy Inc. now owns 6,628 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 805 shares in the last quarter. Endurance Wealth Management Inc. raised its holdings in Chubb by 7.2% in the fourth quarter. Endurance Wealth Management Inc. now owns 1,101 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 74 shares in the last quarter. Finally, First Command Bank raised its holdings in Chubb by 12.9% in the fourth quarter. First Command Bank now owns 1,447 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.
A number of brokerages have commented on CB. William Blair reiterated an “underperform” rating on shares of Chubb in a report on Wednesday, October 30th. Credit Suisse Group upgraded Chubb from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $145.00 to $165.00 in a research note on Tuesday, November 5th. Goldman Sachs Group lowered Chubb from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $159.00 to $147.00 in a research note on Tuesday, January 7th. Raymond James boosted their price target on Chubb from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Evercore ISI assumed coverage on Chubb in a research note on Thursday, October 17th. They set an “in-line” rating and a $149.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Chubb presently has a consensus rating of “Hold” and an average price target of $161.55.
Shares of CB stock opened at $151.29 on Thursday. Chubb Ltd has a fifty-two week low of $128.58 and a fifty-two week high of $162.44. The firm has a market capitalization of $68.32 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $153.55 and its 200-day simple moving average is $153.77.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.06. Chubb had a return on equity of 8.60% and a net margin of 10.48%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Chubb Ltd will post 10.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.98%. Chubb’s payout ratio is 31.78%.
Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, November 21st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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