Transamerica Financial Advisors Inc. lessened its holdings in shares of Chubb Plc (NYSE:CB) by 96.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,636 shares of the financial services provider’s stock after selling 51,674 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Chubb were worth $224,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Chubb by 2.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,559,045 shares of the financial services provider’s stock valued at $227,824,000 after acquiring an additional 42,167 shares during the last quarter. Unison Advisors LLC acquired a new position in shares of Chubb during the 4th quarter valued at about $1,158,000. Woodstock Corp boosted its position in shares of Chubb by 6.5% during the 4th quarter. Woodstock Corp now owns 21,720 shares of the financial services provider’s stock valued at $3,174,000 after acquiring an additional 1,330 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Chubb by 361.1% during the 4th quarter. SG Americas Securities LLC now owns 81,963 shares of the financial services provider’s stock valued at $11,977,000 after acquiring an additional 64,187 shares during the last quarter. Finally, Hermes Investment Management Ltd. boosted its position in shares of Chubb by 2.9% during the 4th quarter. Hermes Investment Management Ltd. now owns 540,430 shares of the financial services provider’s stock valued at $78,973,000 after acquiring an additional 15,477 shares during the last quarter. 87.79% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Barclays upped their target price on shares of Chubb from $169.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $169.00 target price on shares of Chubb in a research report on Tuesday, January 30th. Citigroup upped their target price on shares of Chubb from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, May 1st. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. Finally, Bank of America upped their target price on shares of Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $161.69.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.08. Chubb had a return on equity of 7.29% and a net margin of 11.73%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the company earned $2.48 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. sell-side analysts predict that Chubb Plc will post 10.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 22nd will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, June 21st. This is an increase from Chubb’s previous quarterly dividend of $0.71. This represents a $2.92 annualized dividend and a dividend yield of 2.18%. Chubb’s dividend payout ratio (DPR) is currently 35.37%.
In related news, insider Philip V. Bancroft sold 55,675 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $140.94, for a total transaction of $7,846,834.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.44% of the stock is owned by company insiders.
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.
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