Ticino Wealth Makes New $1.10 Million Investment in Chubb Limited $CB

Key Points

• Ticino Wealth opened a new position in Chubb by acquiring 3,517 shares valued at approximately $1.10 million in the fourth quarter.
• Chubb is heavily institutionally owned (about 83.81%), led by Berkshire Hathaway’s 31.33 million shares, and analysts have a consensus "Hold" rating with an average price target of $346.33 (Citigroup recently raised its target to $385).
• Chubb beat the most recent quarterly EPS estimate ($7.52 vs. $6.33), pays a $0.97 quarterly dividend (1.2% yield), but insiders sold roughly 44,877 shares worth $14.9M over the last quarter, leaving insiders with 0.37% ownership.

Ticino Wealth acquired a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,517 shares of the financial services provider's stock, valued at approximately $1,098,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc lifted its stake in shares of Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after buying an additional 4,299,111 shares during the period. State Street Corp boosted its holdings in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 purchasing an additional 427,512 shares during the period. Bank of America Corp DE increased 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 purchasing an additional 513,852 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock worth $785,468,000 after buying an additional 1,199,963 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CB shares. Cantor Fitzgerald boosted their target price on shares of Chubb from $300.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, January 14th. Wolfe Research increased their target price on Chubb from $372.00 to $373.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Citigroup boosted their price target on Chubb from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Monday, February 9th. Wells Fargo & Company dropped their price target on Chubb from $322.00 to $321.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Finally, Jefferies Financial Group lifted their price objective on Chubb from $333.00 to $356.00 and gave the company a "hold" rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $346.33.

Insider Transactions at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares of the company's stock, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 44,877 shares of company stock valued at $14,885,226. 0.37% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Shares of NYSE CB opened at $328.11 on Tuesday. The company has a market capitalization of $128.04 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The business has a 50-day moving average of $329.13 and a 200-day moving average of $308.94.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same quarter last year, the firm posted $6.02 earnings per share. The business's quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 26.36 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, March 13th. Chubb's dividend payout ratio is 15.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.