Parsons Capital Management Inc. RI reduced its position in shares of Chubb Ltd (NYSE:CB) by 0.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,233 shares of the financial services provider’s stock after selling 20 shares during the period. Parsons Capital Management Inc. RI’s holdings in Chubb were worth $713,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new position in Chubb during the third quarter worth $210,726,000. Renaissance Technologies LLC raised its stake in Chubb by 67.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,857,461 shares of the financial services provider’s stock valued at $377,528,000 after buying an additional 1,147,400 shares during the period. Russell Investments Group Ltd. acquired a new stake in Chubb during the fourth quarter valued at about $143,141,000. Asset Management One Co. Ltd. raised its stake in Chubb by 1,453.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 844,207 shares of the financial services provider’s stock valued at $111,544,000 after buying an additional 789,858 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in Chubb by 13,999.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 238,429 shares of the financial services provider’s stock valued at $29,958,000 after buying an additional 236,738 shares during the period. Hedge funds and other institutional investors own 86.59% of the company’s stock.
Chubb Ltd (NYSE:CB) traded down 0.181% during midday trading on Friday, hitting $136.962. 45,367 shares of the stock traded hands. The company has a market cap of $63.95 billion, a price-to-earnings ratio of 13.490 and a beta of 0.86. Chubb Ltd has a 52-week low of $121.08 and a 52-week high of $140.56. The firm’s 50-day moving average is $137.18 and its 200-day moving average is $132.96.
Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Chubb had a return on equity of 9.94% and a net margin of 12.99%. The business had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.30 billion. During the same period last year, the company earned $2.26 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts predict that Chubb Ltd will post $10.30 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Friday, March 31st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, March 29th. Chubb’s dividend payout ratio (DPR) is presently 31.33%.
A number of research firms recently weighed in on CB. Credit Suisse Group AG set a $145.00 target price on shares of Chubb and gave the stock a “buy” rating in a report on Saturday, March 25th. Morgan Stanley increased their price target on shares of Chubb from $144.00 to $152.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Chubb in a report on Thursday, April 27th. Royal Bank of Canada increased their price target on shares of Chubb from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Chubb in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $140.58.
In related news, insider Timothy Alan Boroughs sold 19,480 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $137.48, for a total transaction of $2,678,110.40. Following the completion of the sale, the insider now directly owns 205,108 shares of the company’s stock, valued at approximately $28,198,247.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 24,972 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $138.66, for a total value of $3,462,617.52. Following the sale, the insider now directly owns 189,973 shares of the company’s stock, valued at $26,341,656.18. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
Chubb Company Profile
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include 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.
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