JustInvest LLC purchased a new position in shares of Chubb Ltd (NYSE:CB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,034 shares of the financial services provider’s stock, valued at approximately $897,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC boosted its stake in shares of Chubb by 8.9% during the 4th quarter. Fieldpoint Private Securities LLC now owns 6,581 shares of the financial services provider’s stock worth $1,024,000 after purchasing an additional 539 shares during the period. IBM Retirement Fund lifted its holdings in Chubb by 53.1% during the 1st quarter. IBM Retirement Fund now owns 11,568 shares of the financial services provider’s stock valued at $1,292,000 after buying an additional 4,014 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in Chubb during the 4th quarter valued at about $4,293,000. AQR Capital Management LLC lifted its holdings in Chubb by 37.6% during the 4th quarter. AQR Capital Management LLC now owns 835,511 shares of the financial services provider’s stock valued at $130,056,000 after buying an additional 228,431 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd lifted its holdings in Chubb by 26.5% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 11,081 shares of the financial services provider’s stock valued at $1,725,000 after buying an additional 2,324 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. TheStreet lowered shares of Chubb from a “b” rating to a “c+” rating in a report on Monday, March 23rd. ValuEngine lowered shares of Chubb from a “hold” rating to a “sell” rating in a report on Monday, May 4th. Piper Sandler upgraded shares of Chubb from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $145.00 to $131.00 in a report on Monday, April 6th. Atlantic Securities upgraded shares of Chubb from an “underweight” rating to a “neutral” rating and set a $130.00 price objective for the company in a report on Tuesday, March 24th. Finally, Deutsche Bank upgraded shares of Chubb from a “sell” rating to a “hold” rating and reduced their price target for the company from $140.00 to $138.00 in a report on Sunday, April 19th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Chubb has a consensus rating of “Hold” and an average target price of $147.53.
Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.68 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.01). The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.14 billion. Chubb had a return on equity of 8.69% and a net margin of 10.21%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 EPS. As a group, equities analysts anticipate that Chubb Ltd will post 9.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, June 18th. This is an increase from Chubb’s previous quarterly dividend of $0.75. Chubb’s payout ratio is currently 29.67%.
In related news, Director Robert W. Scully bought 9,750 shares of the company’s stock in a transaction on Friday, May 1st. The shares were bought at an average price of $102.40 per share, with a total value of $998,400.00. Following the transaction, the director now owns 20,723 shares in the company, valued at $2,122,035.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore Shasta bought 2,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost of $99.74 per share, for a total transaction of $199,480.00. Following the transaction, the director now owns 16,375 shares in the company, valued at approximately $1,633,242.50. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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