Jennison Associates LLC Has $173.10 Million Stock Position in Chubb Limited $CB

Key Points

• Jennison Associates trimmed its stake in Chubb by 5.5% in Q4 to 554,588 shares worth $173.10 million, while other institutions—most notably Berkshire Hathaway (now holding 31,332,895 shares worth about $8.84 billion)—have been increasing exposure, leaving institutional investors with 83.81% ownership.
• Chubb fundamentals: the company reported quarterly EPS of $6.82 on revenue of $14.93 billion, has a market cap of $128.2 billion with a P/E of 11.6, pays a quarterly dividend of $0.97 (1.2% yield), and holds a consensus analyst rating of "Moderate Buy" with a $349.33 price target.

Jennison Associates LLC lowered its stake in Chubb Limited (NYSE:CB - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 554,588 shares of the financial services provider's stock after selling 32,234 shares during the quarter. Jennison Associates LLC owned approximately 0.14% of Chubb worth $173,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Berkshire Hathaway Inc increased its position in Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after buying an additional 4,299,111 shares during the last quarter. State Street Corp raised its stake in Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock valued at $4,827,852,000 after buying an additional 68,553 shares during the period. Ameriprise Financial Inc. raised its stake in Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider's stock valued at $1,426,475,000 after buying an additional 427,512 shares during the period. Bank of America Corp DE raised its stake in 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 valued at $1,428,278,000 after buying an additional 513,852 shares during the period. Finally, AQR Capital Management LLC raised its stake in Chubb by 75.1% in 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. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Trading Up 0.9%

Shares of CB stock opened at $328.53 on Thursday. The company has a current ratio of 0.34, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market cap of $128.20 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.67 and a beta of 0.49. The stock has a 50 day simple moving average of $329.07 and a 200 day simple moving average of $310.84. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, research analysts predict that Chubb Limited will post 26.67 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, March 13th. Chubb's payout ratio is 13.70%.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares of the company's stock, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 44,877 shares of company stock worth $14,885,226. Company insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CB. Cantor Fitzgerald restated a "neutral" rating and issued a $315.00 price objective on shares of Chubb in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their price objective on Chubb from $373.00 to $374.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Morgan Stanley set a $350.00 price objective on Chubb in a report on Friday, January 16th. Wells Fargo & Company boosted their price objective on Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Finally, Mizuho reduced their price objective on Chubb from $336.00 to $335.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $349.33.

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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