Mariner LLC Has $72.73 Million Stock Holdings in Chubb Limited $CB

Key Points

• Mariner LLC increased its Chubb stake by 42.3% in the fourth quarter, ending with 232,933 shares worth about $72.7 million.
• Chubb reported strong recent financial results, including $6.82 EPS for the quarter and revenue of $14.93 billion, while analysts currently have a Hold consensus and an average price target of $349.10.
• The company raised its quarterly dividend to $1.02 per share from $0.97, giving it an annualized payout of $4.08 and a dividend yield of about 1.2%.

Mariner LLC lifted its stake in Chubb Limited (NYSE:CB - Free Report) by 42.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 232,933 shares of the financial services provider's stock after acquiring an additional 69,270 shares during the quarter. Mariner LLC owned approximately 0.06% of Chubb worth $72,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CB. Berkshire Hathaway Inc boosted its holdings in Chubb by 15.9% in 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 purchasing an additional 4,299,111 shares in the last quarter. Norges Bank bought a new stake in Chubb in the fourth quarter worth $1,081,190,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Chubb in the fourth quarter worth $795,378,000. GQG Partners LLC boosted its holdings 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 in the last quarter. Finally, AQR Capital Management LLC boosted its holdings 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 worth $785,468,000 after purchasing an additional 1,199,963 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated 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 owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the sale, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Chubb Stock Down 0.3%

NYSE CB opened at $327.01 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50-day simple moving average of $324.90 and a 200 day simple moving average of $319.31. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The stock has a market cap of $126.83 billion, a PE ratio of 11.55, a PEG ratio of 1.68 and a beta of 0.41.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion during the quarter. On average, research analysts forecast that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a $1.02 dividend. The ex-dividend date is Friday, June 12th. This is a boost from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio is 14.41%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CB shares. Piper Sandler upped their price target on shares of Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $373.00 to $374.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Evercore upped their price target on shares of Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Wolfe Research upped their price target on shares of Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Finally, Barclays decreased their price target on shares of Chubb from $375.00 to $368.00 and set an "equal weight" rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Chubb has a consensus 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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