Hilltop Holdings Inc. Lowers Position in Chubb Limited $CB

Key Points

• Hilltop Holdings cut its stake in Chubb by 82.3% in the first quarter, reducing its holdings to 3,239 shares worth about $1.06 million.
• Chubb’s latest quarterly results beat expectations, with EPS of $7.26 and revenue of $16.01 billion, while the company also raised its quarterly dividend to $1.02 per share.
• Analyst sentiment remains mixed: Chubb has an average Hold rating and a consensus price target of $360.09, even as some firms recently raised or lowered their targets.

Hilltop Holdings Inc. decreased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 82.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,239 shares of the financial services provider's stock after selling 15,107 shares during the period. Hilltop Holdings Inc.'s holdings in Chubb were worth $1,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Hathaway Inc increased its stake in Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares during the last quarter. State Street Corp boosted its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock valued at $4,827,852,000 after acquiring an additional 68,553 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Chubb by 11.6% in 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 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.

Analysts Set New Price Targets

CB has been the topic of a number of recent analyst reports. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and raised their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Jefferies Financial Group decreased their price target on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Bank of America lowered their price objective on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group lifted their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Finally, Morgan Stanley upped their target price on shares of Chubb from $330.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Chubb currently has an average rating of "Hold" and an average price target of $360.09.

Chubb Stock Up 1.8%

Shares of NYSE CB opened at $359.78 on Friday. Chubb Limited has a one year low of $264.10 and a one year high of $365.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.36 and a quick ratio of 0.28. The firm's 50 day simple moving average is $335.55 and its two-hundred day simple moving average is $327.09. The stock has a market capitalization of $139.55 billion, a P/E ratio of 12.73, a PEG ratio of 1.80 and a beta of 0.40.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $16.01 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $6.14 earnings per share. As a group, analysts expect that Chubb Limited will post 27.15 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 12th. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio is 14.43%.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction 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 $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

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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