Hsbc Holdings PLC Increases Stake in Chubb Limited $CB

Key Points

• HSBC Holdings PLC increased its stake in Chubb by 10.1% in the fourth quarter, owning 412,027 shares worth about $129 million at the end of the period.
• Chubb continues to attract major institutional support, with investors like Berkshire Hathaway, Norges Bank, and Price T. Rowe also adding to their positions; institutional ownership now stands at 83.81%.
• The company raised its quarterly dividend to $1.02 per share from $0.97, equivalent to a $4.08 annualized payout and a 1.3% yield.

Hsbc Holdings PLC boosted its stake in Chubb Limited (NYSE:CB - Free Report) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,027 shares of the financial services provider's stock after buying an additional 37,647 shares during the period. Hsbc Holdings PLC owned 0.11% of Chubb worth $128,967,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CB. Berkshire Hathaway Inc raised its position 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 worth $8,843,710,000 after acquiring an additional 4,299,111 shares in the last quarter. Norges Bank bought a new stake in shares of Chubb during the fourth quarter valued at approximately $1,081,190,000. Price T Rowe Associates Inc. MD boosted its position 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 valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Chubb in the fourth quarter worth $795,378,000. Finally, GQG Partners LLC grew its stake in Chubb by 15.2% in 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 during the period. 83.81% of the stock is owned by institutional investors.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of Chubb 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 in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by insiders.

Chubb Stock Up 0.1%

Chubb stock opened at $323.88 on Monday. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The stock has a fifty day simple moving average of $324.70 and a two-hundred day simple moving average of $320.15. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market cap of $125.62 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.65 and a beta of 0.41.

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. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion for the quarter. Equities analysts predict that Chubb Limited will post 26.8 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.3%. 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 14.41%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CB. Wells Fargo & Company raised their price objective on Chubb from $321.00 to $333.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Mizuho reduced their target price on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Evercore lifted their price target on shares of Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group dropped their price objective on shares of Chubb from $372.00 to $362.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. Finally, Jefferies Financial Group cut their price objective 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. One equities 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $349.10.

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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