Capital World Investors Increases Position in Chubb Limited (NYSE:CB)

Capital World Investors raised its holdings in Chubb Limited (NYSE:CB) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 11,481,301 shares of the financial services provider’s stock after purchasing an additional 212,889 shares during the period. Capital World Investors’ holdings in Chubb were worth $3,172,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Demars Financial Group LLC raised its position in Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the period. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. purchased a new position in Chubb in the fourth quarter valued at approximately $1,158,897,000. GQG Partners LLC grew its holdings in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after purchasing an additional 1,178,628 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its stake in shares of Chubb by 1,007,698.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after acquiring an additional 1,007,698 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 in the last three months. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CB. Wells Fargo & Company lowered their price target on shares of Chubb from $271.00 to $268.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group increased their target price on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Piper Sandler raised their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $307.21.

Chubb Stock Up 0.1 %

Shares of NYSE CB opened at $285.29 on Friday. The stock has a market capitalization of $114.31 billion, a P/E ratio of 12.56, a PEG ratio of 3.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a one year low of $238.85 and a one year high of $306.91. The firm’s 50 day simple moving average is $284.62 and its two-hundred day simple moving average is $281.20.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s dividend payout ratio is 16.02%.

About Chubb

Chubb Limited 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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.