Chubb Limited $CB Shares Sold by Aristotle Atlantic Partners LLC

Key Points

• Aristotle Atlantic Partners trimmed its stake in Chubb (NYSE:CB) by 4.6%, selling 5,511 shares to hold 113,140 shares valued at $31.934 million, about 0.9% of its portfolio and its 28th largest position.
• Several large institutions increased exposure to Chubb: Norges Bank established a new ~ $1.195 billion stake, and AQR raised its holding 75.1% to 2,798,546 shares (≈$785.5 million), with Amundi, Bank of America and London Co. of Virginia also boosting positions.
• Company fundamentals and insider moves: Chubb beat quarterly EPS estimates ($7.52 vs. $6.33) with revenue up 8.9% year-over-year, declared a $0.97 quarterly dividend (annualized $3.88, ~1.2% yield), while insiders EVP Timothy Boroughs and CEO Evan Greenberg sold 27,817 and 15,060 shares respectively.

Aristotle Atlantic Partners LLC trimmed its position in Chubb Limited (NYSE:CB - Free Report) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,140 shares of the financial services provider's stock after selling 5,511 shares during the period. Chubb comprises about 0.9% of Aristotle Atlantic Partners LLC's investment portfolio, making the stock its 28th largest position. Aristotle Atlantic Partners LLC's holdings in Chubb were worth $31,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Chubb during the second quarter worth about $1,195,137,000. AQR Capital Management LLC lifted its stake in shares of Chubb by 75.1% during the third 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. Amundi lifted its stake in shares of Chubb by 55.4% during the third quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock valued at $557,493,000 after buying an additional 693,740 shares during the period. Bank of America Corp DE boosted its position in Chubb by 11.6% during the second 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 last quarter. Finally, London Co. of Virginia boosted its position in Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider's stock worth $213,559,000 after acquiring an additional 500,116 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president directly owned 11,810 shares of the company's stock, valued at $3,920,683.80. The trade was a 70.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the business's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares of the company's stock, valued at $169,572,096.72. The trade was a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.77% of the company's stock.

Chubb Stock Down 0.1%

Shares of CB opened at $329.24 on Friday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The company's fifty day moving average is $319.55 and its two-hundred day moving average is $299.58. The firm has a market cap of $128.45 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping analysts' consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $6.02 EPS. Analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Chubb's payout ratio is 15.08%.

Analysts Set New Price Targets

CB has been the subject of several analyst reports. Barclays boosted their price target on Chubb from $317.00 to $339.00 and gave the company an "equal weight" rating in a report on Thursday, January 8th. BMO Capital Markets raised their price objective on Chubb from $283.00 to $326.00 and gave the stock a "market perform" rating in a report on Tuesday, February 10th. Citigroup lifted their price objective on Chubb from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Monday, February 9th. Wells Fargo & Company upped their target price on Chubb from $305.00 to $322.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Finally, Morgan Stanley set a $350.00 target price on Chubb in a research report on Friday, January 16th. 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 company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $340.81.

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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