Cooke & Bieler LP Decreases Position in Chubb Limited $CB

Key Points

• Cooke & Bieler LP reduced its Chubb stake by 6.7% in the fourth quarter, selling 40,636 shares and ending with 565,375 shares worth about $176.5 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 83.81% of Chubb; several firms, including Berkshire Hathaway and AQR Capital Management, increased their positions.
• Analysts remain generally positive on Chubb, with a consensus rating of “Moderate Buy” and an average target price of $349.33, while the stock recently traded around $328.03.

Cooke & Bieler LP trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 565,375 shares of the financial services provider's stock after selling 40,636 shares during the quarter. Chubb makes up 1.8% of Cooke & Bieler LP's portfolio, making the stock its 11th biggest holding. Cooke & Bieler LP owned 0.14% of Chubb worth $176,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CB. Berkshire Hathaway Inc lifted 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 acquiring an additional 4,299,111 shares in the last quarter. AQR Capital Management LLC raised 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 purchasing an additional 1,199,963 shares during the last quarter. Woodline Partners LP acquired a new position in Chubb in the 3rd quarter valued at about $220,217,000. Amundi raised its stake in Chubb by 55.4% in the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock valued at $557,493,000 after purchasing an additional 693,740 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in 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 valued at $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of Chubb from $326.00 to $339.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. The Goldman Sachs Group boosted their target price on shares of Chubb from $368.00 to $372.00 and gave the company a "buy" rating in a research note on Tuesday, April 7th. Barclays boosted their target price on shares of Chubb from $374.00 to $375.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 22nd. Citizens Jmp boosted their target price on shares of Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 22nd. Finally, Roth Mkm boosted their target price on shares of Chubb from $330.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.33.

Chubb Stock Up 0.0%

Shares of NYSE:CB opened at $328.03 on Monday. The stock's 50-day moving average price is $326.50 and its two-hundred day moving average price is $316.08. The firm has a market cap of $127.23 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.68 and a beta of 0.43. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67.

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 for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, research analysts forecast that Chubb Limited will post 26.78 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, March 13th. Chubb's dividend payout ratio (DPR) is 13.70%.

Insider Activity at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

About Chubb

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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