Joel Isaacson & Co. LLC raised its holdings in shares of Chubb Ltd (NYSE:CB) by 317.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,558 shares of the financial services provider’s stock after purchasing an additional 7,270 shares during the period. Joel Isaacson & Co. LLC’s holdings in Chubb were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CB. Vanguard Group Inc. grew its stake in shares of Chubb by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 37,280,448 shares of the financial services provider’s stock worth $4,982,160,000 after acquiring an additional 417,887 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Chubb by 1.1% in the third quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after buying an additional 417,887 shares in the last quarter. Capital International Investors grew its stake in shares of Chubb by 89.7% in the third quarter. Capital International Investors now owns 17,829,438 shares of the financial services provider’s stock valued at $2,382,726,000 after buying an additional 8,430,416 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Chubb by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 6,737,036 shares of the financial services provider’s stock valued at $900,339,000 after buying an additional 63,629 shares in the last quarter. Finally, WCM Investment Management CA grew its stake in shares of Chubb by 3.9% in the third quarter. WCM Investment Management CA now owns 6,706,938 shares of the financial services provider’s stock valued at $896,315,000 after buying an additional 251,602 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.
In related news, Director Michael G. Atieh sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $133.27, for a total value of $159,924.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 1,242 shares of company stock valued at $165,544. 0.44% of the stock is owned by insiders.
CB stock traded down $0.27 during midday trading on Friday, reaching $130.35. The company had a trading volume of 1,883,241 shares, compared to its average volume of 1,754,617. The company has a market cap of $60.07 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82. Chubb Ltd has a 1-year low of $119.54 and a 1-year high of $148.58. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.24.
Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, February 5th. The financial services provider reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.09. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.80 billion. Chubb had a return on equity of 8.66% and a net margin of 11.72%. Chubb’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.17 earnings per share. On average, analysts anticipate that Chubb Ltd will post 10.8 EPS for the current fiscal year.
Chubb declared that its board has initiated a share buyback plan on Thursday, November 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, January 11th. Investors of record on Friday, December 21st were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, December 20th. Chubb’s dividend payout ratio (DPR) is presently 30.93%.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Chubb from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Wells Fargo & Co reaffirmed a “buy” rating and set a $160.00 price objective on shares of Chubb in a research report on Monday, December 3rd. Deutsche Bank reduced their price objective on shares of Chubb from $123.00 to $121.00 and set a “sell” rating for the company in a research report on Monday, January 7th. Morgan Stanley reduced their price objective on shares of Chubb from $166.00 to $153.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. Finally, Compass Point initiated coverage on Chubb in a report on Tuesday, January 15th. They set a “buy” rating and a $165.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $155.11.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
Featured Story: How do buyers and sellers choose a strike price?