Jennison Associates LLC Sells 114,512 Shares of Chubb Limited (NYSE:CB)

Jennison Associates LLC decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 780,832 shares of the financial services provider's stock after selling 114,512 shares during the period. Jennison Associates LLC owned 0.19% of Chubb worth $235,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CB. Vanguard Group Inc. raised its holdings in Chubb by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock valued at $10,072,097,000 after buying an additional 271,648 shares in the last quarter. FMR LLC increased its holdings in shares of Chubb by 0.6% during the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after acquiring an additional 91,892 shares during the last quarter. Capital World Investors lifted its holdings in Chubb by 1.9% in the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock worth $3,172,194,000 after purchasing an additional 212,889 shares during the last quarter. Capital Research Global Investors boosted its position in Chubb by 1.5% during the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock worth $2,457,402,000 after purchasing an additional 131,075 shares during the period. Finally, Demars Financial Group LLC grew its holdings in Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Jefferies Financial Group upped their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a report on Friday, April 11th. Morgan Stanley lifted their price objective on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, UBS Group boosted their price objective on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $307.13.

Chubb Price Performance

Shares of Chubb stock traded down $1.72 during trading on Friday, hitting $273.74. 2,977,889 shares of the company's stock traded hands, compared to its average volume of 1,652,788. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $109.70 billion, a PE ratio of 13.17, a PEG ratio of 3.06 and a beta of 0.53. The firm's fifty day moving average price is $286.47 and its 200 day moving average price is $282.21.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. Analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is currently 18.67%.

Chubb declared that its board has initiated a stock repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is owned by insiders.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.