BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Holdings in Chubb Limited (NYSE:CB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,520 shares of the financial services provider's stock after purchasing an additional 9,155 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Chubb were worth $20,314,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in Chubb in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in Chubb during the fourth quarter worth $29,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Human Investing LLC acquired a new stake in Chubb in the 4th quarter valued at about $36,000. Finally, Mainstream Capital Management LLC acquired a new position in shares of Chubb during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

CB has been the subject of several research reports. Jefferies Financial Group boosted their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research note on Tuesday, May 20th. Raymond James reissued a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $307.53.

Chubb Stock Up 1.1%

Shares of CB stock traded up $3.15 during midday trading on Tuesday, reaching $289.25. 396,908 shares of the stock were exchanged, compared to its average volume of 1,605,927. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The firm has a market cap of $115.91 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company's 50 day moving average is $288.01 and its two-hundred day moving average is $281.12. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. On average, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, June 13th. Chubb's payout ratio is presently 18.67%.

Chubb announced that its Board of Directors has authorized a share buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 10,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. This represents a 11.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares of the company's stock, valued at approximately $170,321,922.75. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,553 shares of company stock valued at $43,257,220. 0.77% of the stock is owned by corporate insiders.

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.