Brown Advisory Inc. Sells 9,379 Shares of Chubb Limited $CB

Key Points

• Brown Advisory Inc. reduced its Chubb stake by 11.7% in the fourth quarter, selling 9,379 shares and leaving it with 71,103 shares valued at about $22.2 million.
• Several other institutional investors also adjusted positions in Chubb, while 83.81% of the stock is owned by institutions. Berkshire Hathaway, Norges Bank, and others added or initiated large stakes.
• Chubb’s board approved a higher quarterly dividend of $1.02 per share, up from $0.97, with payment scheduled for July 2. The stock was trading around $327, and analysts currently rate it a consensus Hold with a target price of about $349.10.

Brown Advisory Inc. cut its stake in Chubb Limited (NYSE:CB - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,103 shares of the financial services provider's stock after selling 9,379 shares during the quarter. Brown Advisory Inc.'s holdings in Chubb were worth $22,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CB. Berkshire Hathaway Inc increased its stake in shares of Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. Norges Bank bought a new stake in shares of Chubb in the 4th quarter valued at about $1,081,190,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Chubb during the 4th quarter valued at about $795,378,000. GQG Partners LLC lifted its holdings in shares of Chubb by 15.2% during 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 purchasing an additional 1,647,729 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock valued at $785,468,000 after purchasing an additional 1,199,963 shares during the period. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CB. The Goldman Sachs Group lowered their target price on Chubb from $372.00 to $362.00 and set a "buy" rating for the company in a research note on Monday, June 8th. Evercore increased their target price on Chubb from $347.00 to $349.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Barclays lowered their target price on Chubb from $375.00 to $368.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods increased their target price on Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Chubb presently has an average rating of "Hold" and a consensus target price of $349.10.

Chubb Trading Down 0.3%

NYSE:CB opened at $327.01 on Tuesday. The company has a market cap of $126.83 billion, a P/E ratio of 11.55, a price-to-earnings-growth 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. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The business has a 50 day moving average price of $324.90 and a two-hundred day moving average price of $319.31.

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

Chubb Increases Dividend

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

Insider Activity at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Chubb 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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