Mackenzie Financial Corp reduced its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,466 shares of the financial services provider's stock after selling 1,880 shares during the quarter. Mackenzie Financial Corp's holdings in Chubb were worth $17,812,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its position in Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider's stock valued at $511,226,000 after purchasing an additional 388,746 shares during the last quarter. Mutual Advisors LLC lifted its position in Chubb by 25.5% during the 4th quarter. Mutual Advisors LLC now owns 2,071 shares of the financial services provider's stock worth $567,000 after buying an additional 421 shares in the last quarter. Brighton Jones LLC grew its holdings in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after acquiring an additional 221 shares during the last quarter. RFG Advisory LLC increased its position in Chubb by 111.4% in the 4th quarter. RFG Advisory LLC now owns 2,442 shares of the financial services provider's stock valued at $675,000 after acquiring an additional 1,287 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Chubb by 3.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,236 shares of the financial services provider's stock worth $894,000 after acquiring an additional 93 shares during the last quarter. 83.81% of the stock is owned by institutional investors.
Chubb Trading Up 1.1%
NYSE:CB traded up $3.19 on Friday, reaching $297.34. The company's stock had a trading volume of 2,483,635 shares, compared to its average volume of 1,611,621. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The business's 50-day moving average price is $288.05 and its two-hundred day moving average price is $281.41. The firm has a market cap of $119.15 billion, a PE ratio of 13.09, a PEG ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.
Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.
Chubb Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.30%. Chubb's dividend payout ratio is currently 18.67%.
Chubb declared that its board has authorized a share buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. UBS Group lifted their target price on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. HSBC raised Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Chubb has a consensus rating of "Moderate Buy" and an average price target of $307.53.
Get Our Latest Report on Chubb
Insider Buying and Selling
In other news, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer now directly owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,553 shares of company stock worth $43,257,220 over the last ninety days. Company insiders own 0.86% of the company's stock.
About Chubb
(
Free Report)
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.
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