Chubb Limited $CB Shares Purchased by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. boosted its Chubb stake by 884.1% in the fourth quarter, ending with 9,959 shares valued at about $3.1 million.
• Institutional interest in Chubb remains strong, with 83.81% of the stock owned by hedge funds and other institutions; Berkshire Hathaway, AQR Capital Management, and others also increased their positions.
• Chubb shares were down 1.5% to $320.63, while analysts currently rate the stock “Moderate Buy” with an average price target of $349.90.

Harbour Investments Inc. raised its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 884.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,959 shares of the financial services provider's stock after acquiring an additional 8,947 shares during the period. Harbour Investments Inc.'s holdings in Chubb were worth $3,108,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc grew its position in 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 buying an additional 4,299,111 shares during the last quarter. AQR Capital Management LLC increased its stake in 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 buying an additional 1,199,963 shares during the period. Woodline Partners LP purchased a new position in Chubb during the 3rd quarter worth $220,217,000. Amundi lifted its stake in shares of Chubb by 55.4% in the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock worth $557,493,000 after acquiring an additional 693,740 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock worth $1,428,278,000 after acquiring an additional 513,852 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the sale, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Chubb Trading Down 1.5%

NYSE:CB opened at $320.63 on Thursday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. 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 stock has a fifty day simple moving average of $326.20 and a 200-day simple moving average of $316.94. The company has a market capitalization of $124.36 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.66 and a beta of 0.43.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. On average, equities research analysts expect that Chubb Limited will post 26.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CB shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $315.00 price target on shares of Chubb in a research note on Wednesday, April 22nd. BMO Capital Markets lifted their price objective on Chubb from $326.00 to $339.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Wells Fargo & Company boosted their target price on Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. 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. Finally, Barclays raised their price target on Chubb from $374.00 to $375.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $349.90.

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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