Point72 Europe London LLP Purchases New Shares in Chubb Limited (NYSE:CB)

Point72 Europe London LLP bought a new stake in Chubb Limited (NYSE:CB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,300 shares of the financial services provider's stock, valued at approximately $2,017,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prana Capital Management LP acquired a new stake in shares of Chubb during the fourth quarter worth approximately $61,614,000. Quantinno Capital Management LP boosted its stake in Chubb by 26.5% during the 4th quarter. Quantinno Capital Management LP now owns 37,945 shares of the financial services provider's stock valued at $10,484,000 after acquiring an additional 7,951 shares during the last quarter. Paradigm Capital Management LLC NV grew its holdings in Chubb by 11.6% during the 4th quarter. Paradigm Capital Management LLC NV now owns 1,390 shares of the financial services provider's stock worth $384,000 after acquiring an additional 145 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in Chubb during the 4th quarter worth $1,529,000. Finally, Nomura Holdings Inc. increased its position in shares of Chubb by 186.3% in the 4th quarter. Nomura Holdings Inc. now owns 20,880 shares of the financial services provider's stock worth $5,769,000 after purchasing an additional 13,587 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CB. Raymond James reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Piper Sandler upped their price target on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Chubb in a report on Thursday, January 30th. Finally, JMP Securities restated a "market outperform" rating and issued a $325.00 price target on shares of Chubb in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $307.86.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now directly owns 29,194 shares of the company's stock, valued at $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the sale, the executive vice president now directly owns 78,422 shares of the company's stock, valued at $23,120,374.04. The trade was a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,470 shares of company stock worth $18,562,730. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Performance

Shares of CB traded down $0.04 during mid-day trading on Monday, reaching $294.29. 1,267,202 shares of the company's stock traded hands, compared to its average volume of 1,612,862. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The business's 50-day moving average price is $288.43 and its 200-day moving average price is $280.66. The stock has a market capitalization of $117.93 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. This is a boost 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 yield of 1.32%. Chubb's dividend payout ratio (DPR) is presently 17.52%.

Chubb declared that its board has initiated a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Chubb Company Profile

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.