Brown Brothers Harriman & Co. increased its position in shares of Chubb Limited (NYSE:CB) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,617 shares of the financial services provider’s stock after buying an additional 463 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Chubb were worth $1,052,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CB. E Fund Management Co. Ltd. acquired a new position in Chubb during the 1st quarter worth approximately $125,000. Moors & Cabot Inc. raised its stake in Chubb by 6.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,370 shares of the financial services provider’s stock worth $1,165,000 after buying an additional 425 shares during the period. Haverford Trust Co. raised its stake in Chubb by 1.5% during the 1st quarter. Haverford Trust Co. now owns 12,079 shares of the financial services provider’s stock worth $1,908,000 after buying an additional 180 shares during the period. Cresset Asset Management LLC raised its stake in Chubb by 70.2% during the 1st quarter. Cresset Asset Management LLC now owns 9,601 shares of the financial services provider’s stock worth $1,523,000 after buying an additional 3,961 shares during the period. Finally, Geode Capital Management LLC raised its stake in Chubb by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,090,606 shares of the financial services provider’s stock worth $1,117,020,000 after buying an additional 139,461 shares during the period. 86.68% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. increased their price objective on Chubb from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, June 21st. Evercore ISI reissued a “buy” rating on shares of Chubb in a research note on Sunday. Zacks Investment Research downgraded Chubb from a “buy” rating to a “hold” rating and set a $185.00 price objective for the company. in a research note on Tuesday, September 28th. Raymond James reissued a “buy” rating and issued a $200.00 price objective on shares of Chubb in a research note on Monday, July 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Chubb from $142.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $180.56.
Chubb (NYSE:CB) last released its earnings results on Monday, July 26th. The financial services provider reported $3.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.61. Chubb had a net margin of 20.42% and a return on equity of 8.70%. The firm had revenue of $9.55 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the business earned ($0.56) earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. As a group, equities research analysts anticipate that Chubb Limited will post 12.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, September 17th were issued a $0.80 dividend. The ex-dividend date was Thursday, September 16th. This represents a $3.20 dividend on an annualized basis and a yield of 1.76%. Chubb’s payout ratio is currently 43.78%.
Chubb announced that its Board of Directors has authorized a share repurchase plan on Monday, July 19th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
In other Chubb news, insider John J. Lupica sold 10,140 shares of the business’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $180.00, for a total transaction of $1,825,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 7,177 shares of the business’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $185.14, for a total transaction of $1,328,749.78. Following the sale, the chief executive officer now owns 726,105 shares of the company’s stock, valued at $134,431,079.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,188 shares of company stock valued at $10,920,772. 0.41% of the stock is owned by company insiders.
Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: 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.
Further Reading: What is the Fibonacci sequence?
Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB).
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.