Nearwater Capital Markets Ltd purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,000 shares of the financial services provider's stock, valued at approximately $9,947,000.
A number of other large investors also recently added to or reduced their stakes in CB. Vanguard Group Inc. increased its stake 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 worth $10,072,097,000 after purchasing an additional 271,648 shares during the period. FMR LLC grew its holdings in shares of Chubb by 0.6% in the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after purchasing an additional 91,892 shares in the last quarter. Capital World Investors increased its stake in Chubb by 1.9% during 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 buying an additional 212,889 shares during the period. Capital Research Global Investors lifted its holdings in Chubb by 1.5% during the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock worth $2,457,402,000 after buying an additional 131,075 shares in the last quarter. Finally, Demars Financial Group LLC lifted its holdings in Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after buying an additional 5,340,499 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Chubb Stock Performance
Shares of NYSE:CB traded up $2.14 during midday trading on Friday, hitting $294.19. The stock had a trading volume of 1,402,309 shares, compared to its average volume of 1,625,007. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $288.43 and a two-hundred day moving average price of $280.69. The company has a market capitalization of $117.89 billion, a PE ratio of 12.95, a P/E/G ratio of 3.36 and a beta of 0.57.
Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates 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 13.75% and a net margin of 16.63%. As a group, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.
Chubb Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is currently 17.52%.
Chubb announced that its board has approved a share repurchase plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of research firms have recently weighed in on CB. Wells Fargo & Company upped 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. Jefferies Financial Group upped their price target on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price objective for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $307.86.
Read Our Latest Research Report on CB
Insider Activity at Chubb
In other news, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now owns 20,044 shares of the company's stock, valued at $5,820,978.04. The trade was a 3.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 over the last 90 days. Company insiders own 0.77% of the company's stock.
Chubb Profile
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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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