Platform Technology Partners Grows Holdings in Chubb Limited (NYSE:CB)

Platform Technology Partners grew its stake in Chubb Limited (NYSE:CB – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,470 shares of the financial services provider’s stock after buying an additional 73 shares during the period. Platform Technology Partners’ holdings in Chubb were worth $1,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in shares of Chubb by 99.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 870,209 shares of the financial services provider’s stock worth $158,274,000 after acquiring an additional 434,799 shares during the last quarter. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Chubb by 57.6% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 1,186,647 shares of the financial services provider’s stock worth $215,827,000 after acquiring an additional 433,479 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Chubb by 507.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 451,115 shares of the financial services provider’s stock worth $82,049,000 after acquiring an additional 376,859 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Chubb in the 3rd quarter worth approximately $64,747,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Chubb by 6.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,282,359 shares of the financial services provider’s stock worth $960,755,000 after acquiring an additional 338,463 shares during the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,871 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the sale, the chief operating officer now directly owns 272,062 shares of the company’s stock, valued at approximately $57,726,115.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $241.00 to $246.00 in a report on Monday, January 9th. BMO Capital Markets initiated coverage on shares of Chubb in a report on Thursday, January 19th. They set a “market perform” rating and a $225.00 price target for the company. Citigroup lowered their price target on shares of Chubb from $236.00 to $229.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Morgan Stanley upped their price objective on shares of Chubb from $216.00 to $220.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 22nd. Finally, StockNews.com assumed coverage on shares of Chubb in a report on Thursday. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.92.

Chubb Stock Down 2.6 %

Shares of NYSE:CB traded down $5.06 during midday trading on Friday, reaching $186.80. The company’s stock had a trading volume of 4,798,586 shares, compared to its average volume of 1,932,890. The firm has a 50 day moving average of $213.28 and a 200-day moving average of $207.20. The firm has a market capitalization of $77.24 billion, a P/E ratio of 14.92, a PEG ratio of 1.12 and a beta of 0.66. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28. Chubb Limited has a 12-month low of $173.78 and a 12-month high of $231.37.

Chubb (NYSE:CB – Get Rating) last released its earnings results on Wednesday, February 1st. The financial services provider reported $4.05 earnings per share for the quarter, missing analysts’ consensus estimates of $4.22 by ($0.17). The business had revenue of $11.43 billion during the quarter, compared to analysts’ expectations of $11.58 billion. Chubb had a return on equity of 12.51% and a net margin of 12.35%. During the same period in the prior year, the company earned $3.81 earnings per share. On average, research analysts anticipate that Chubb Limited will post 17.4 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Friday, March 17th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.78%. The ex-dividend date is Thursday, March 16th. Chubb’s dividend payout ratio (DPR) is 26.52%.

About Chubb

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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.