Eaton Vance Management Lowers Stock Holdings in Chubb Limited (NYSE:CB)


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Eaton Vance Management reduced its stake in Chubb Limited (NYSE:CB) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,400 shares of the financial services provider’s stock after selling 126,627 shares during the period. Eaton Vance Management owned approximately 0.06% of Chubb worth $41,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CB. Capstone Triton Financial Group LLC purchased a new stake in Chubb in the 4th quarter valued at approximately $25,000. RWM Asset Management LLC acquired a new position in Chubb in the 4th quarter valued at $26,000. Arlington Partners LLC purchased a new stake in shares of Chubb during the 4th quarter valued at $27,000. Mcmillion Capital Management Inc. purchased a new stake in Chubb during the 4th quarter worth $28,000. Finally, Addison Advisors LLC purchased a new stake in Chubb during the 4th quarter worth $28,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

In other news, Vice Chairman Paul J. Krump sold 6,250 shares of Chubb stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $160.06, for a total transaction of $1,000,375.00. Following the sale, the insider now directly owns 108,021 shares in the company, valued at approximately $17,289,841.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Paul J. Krump sold 5,600 shares of Chubb stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $165.05, for a total transaction of $924,280.00. Following the sale, the insider now owns 101,921 shares in the company, valued at $16,822,061.05. The disclosure for this sale can be found here. Insiders sold a total of 22,087 shares of company stock worth $3,690,300 over the last 90 days. Company insiders own 0.37% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Chubb from $173.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, February 4th. Raymond James raised their target price on shares of Chubb from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Wednesday, March 17th. Citigroup upped their price target on shares of Chubb from $178.00 to $187.00 in a research report on Wednesday, March 31st. JPMorgan Chase & Co. downgraded shares of Chubb from an “overweight” rating to a “neutral” rating and upped their price target for the company from $152.00 to $155.00 in a research report on Monday, January 4th. Finally, Royal Bank of Canada upped their price target on shares of Chubb from $155.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $163.17.

NYSE:CB opened at $160.95 on Thursday. Chubb Limited has a 1 year low of $93.10 and a 1 year high of $179.01. The firm’s fifty day simple moving average is $165.18 and its 200 day simple moving average is $148.74. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $72.46 billion, a PE ratio of 32.06, a PEG ratio of 1.36 and a beta of 0.67.

Chubb (NYSE:CB) last posted its earnings results on Monday, February 1st. The financial services provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.36. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.83 billion. Chubb had a net margin of 6.24% and a return on equity of 5.33%. Chubb’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.28 EPS. As a group, analysts anticipate that Chubb Limited will post 7.02 EPS for the current fiscal year.

Chubb declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Friday, March 19th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, March 18th. This represents a $3.12 annualized dividend and a yield of 1.94%. Chubb’s dividend payout ratio is 30.86%.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial 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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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