Patriot Wealth Management Inc. increased its stake in shares of Chubb Ltd (NYSE:CB) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,326 shares of the financial services provider’s stock after purchasing an additional 537 shares during the quarter. Patriot Wealth Management Inc.’s holdings in Chubb were worth $4,724,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. CIBC World Markets Inc. acquired a new position in Chubb in the 2nd quarter valued at approximately $394,000. Northwestern Mutual Wealth Management Co. increased its position in Chubb by 8.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,585 shares of the financial services provider’s stock valued at $1,829,000 after acquiring an additional 946 shares during the period. Riverhead Capital Management LLC increased its position in Chubb by 12.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,288 shares of the financial services provider’s stock valued at $1,205,000 after acquiring an additional 891 shares during the period. Stephens Inc. AR increased its position in Chubb by 1.3% in the 2nd quarter. Stephens Inc. AR now owns 19,015 shares of the financial services provider’s stock valued at $2,764,000 after acquiring an additional 252 shares during the period. Finally, WBI Investments Inc. increased its position in Chubb by 125.6% in the 2nd quarter. WBI Investments Inc. now owns 218,770 shares of the financial services provider’s stock valued at $31,805,000 after acquiring an additional 121,785 shares during the period. Institutional investors and hedge funds own 88.17% of the company’s stock.
Several equities analysts have issued reports on CB shares. Wells Fargo & Co set a $169.00 price target on shares of Chubb and gave the company a “buy” rating in a research report on Wednesday, November 29th. Zacks Investment Research cut shares of Chubb from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Goldman Sachs Group started coverage on shares of Chubb in a research note on Monday, December 4th. They issued a “buy” rating and a $167.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Chubb from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 8th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $156.00 price objective on shares of Chubb in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $161.33.
Chubb Ltd (CB) traded down $0.56 during trading hours on Wednesday, hitting $145.29. 1,541,601 shares of the stock were exchanged, compared to its average volume of 1,933,200. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30. Chubb Ltd has a 12 month low of $127.15 and a 12 month high of $156.00. The company has a market cap of $67,710.00, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.36 and a beta of 0.96.
Chubb (NYSE:CB) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.11. Chubb had a net margin of 12.15% and a return on equity of 7.22%. The company had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the firm posted $2.88 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. equities analysts expect that Chubb Ltd will post 7.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, December 28th. Chubb’s dividend payout ratio is presently 34.05%.
Chubb declared that its Board of Directors has initiated a stock buyback program on Thursday, December 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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