Banque Cantonale Vaudoise Grows Position in Chubb Limited $CB

Key Points

• Banque Cantonale Vaudoise increased its stake in Chubb by 47.4% in the first quarter, lifting its holdings to 22,930 shares valued at about $7.47 million.
• Chubb reported strong recent operating results, including $6.82 in quarterly EPS and $14.93 billion in revenue, while analysts currently have a Hold consensus with a target price of $349.10.
• The insurer raised its quarterly dividend to $1.02 per share from $0.97, bringing the annualized payout to $4.08 and the dividend yield to about 1.2%.

Banque Cantonale Vaudoise grew its holdings in Chubb Limited (NYSE:CB - Free Report) by 47.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,930 shares of the financial services provider's stock after buying an additional 7,374 shares during the period. Banque Cantonale Vaudoise's holdings in Chubb were worth $7,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Berkshire Hathaway Inc grew its position in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares in the last quarter. Norges Bank purchased a new position in Chubb during the fourth quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD boosted its stake in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Chubb during the fourth quarter worth $795,378,000. Finally, GQG Partners LLC grew its holdings in Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock valued at $3,895,627,000 after buying an additional 1,647,729 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Chubb stock opened at $335.22 on Thursday. The company's 50 day simple moving average is $324.76 and its 200-day simple moving average is $320.92. The company has a market capitalization of $130.02 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.41. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. As a group, equities research analysts expect that Chubb Limited will post 26.8 earnings per share 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 issued a $1.02 dividend. The ex-dividend date is Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

A number of brokerages have issued reports on CB. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $315.00 target price on shares of Chubb in a research note on Wednesday, April 22nd. Barclays lowered 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, June 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chubb from $304.00 to $330.00 and gave the stock a "hold" rating in a research report on Monday, March 23rd. Citizens Jmp lifted their target price on shares of Chubb from $350.00 to $365.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 22nd. Finally, Wolfe Research boosted their target price on shares of Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb presently has an average rating of "Hold" and a consensus target price of $349.10.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.