Arrowstreet Capital Limited Partnership Acquires 666,093 Shares of Chubb Limited $CB

Key Points

• Arrowstreet Capital increased its Chubb stake by 200% in the fourth quarter, buying 666,093 additional shares to bring its total holding to 999,072 shares worth about $311.8 million.
• Several other institutional investors also adjusted their positions, and institutions now own 83.81% of Chubb’s stock, underscoring heavy institutional interest in the insurer.
• Chubb reported solid results and raised its quarterly dividend to $1.02 per share from $0.97, while analysts currently rate the stock Moderate Buy with an average price target of $349.10.

Arrowstreet Capital Limited Partnership lifted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 200.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 999,072 shares of the financial services provider's stock after acquiring an additional 666,093 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.25% of Chubb worth $311,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its position in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Chubb during the third quarter worth $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Chubb during the fourth quarter worth $31,000. Ares Financial Consulting LLC acquired a new stake in shares of Chubb during the fourth quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CB. Mizuho cut their target price on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Citizens Jmp raised their price target on shares of Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 22nd. Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, April 27th. Barclays dropped their price target on shares of Chubb from $375.00 to $368.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, Evercore raised their price target on shares of Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $349.10.

Chubb Price Performance

CB opened at $328.06 on Monday. The company has a market capitalization of $127.24 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.68 and a beta of 0.41. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $324.93 and a 200-day moving average price of $319.10. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The firm had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Equities analysts expect that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $1.02 per share. This is an increase from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. Chubb's dividend payout ratio is presently 14.41%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the sale, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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