Tower Research Capital LLC TRC lowered its position in shares of Chubb Ltd (NYSE:CB) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,378 shares of the financial services provider’s stock after selling 726 shares during the period. Tower Research Capital LLC TRC’s holdings in Chubb were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in Chubb by 1.8% in the second quarter. Bank of America Corp DE now owns 10,153,074 shares of the financial services provider’s stock worth $1,289,643,000 after purchasing an additional 175,841 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Chubb by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 6,737,036 shares of the financial services provider’s stock worth $900,339,000 after purchasing an additional 63,629 shares during the last quarter. WCM Investment Management CA boosted its holdings in 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 worth $896,315,000 after purchasing an additional 251,602 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Chubb by 17.6% in the third quarter. Franklin Resources Inc. now owns 5,652,945 shares of the financial services provider’s stock worth $755,460,000 after purchasing an additional 846,176 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Chubb by 12.3% in the second quarter. American Century Companies Inc. now owns 4,610,946 shares of the financial services provider’s stock worth $585,682,000 after purchasing an additional 504,768 shares during the last quarter. 87.61% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on CB shares. ValuEngine upgraded shares of Chubb from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Wells Fargo & Co restated a “buy” rating and issued a $169.00 target price on shares of Chubb in a report on Wednesday, October 10th. Zacks Investment Research cut shares of Chubb from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Citigroup dropped their target price on shares of Chubb from $157.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 12th. Finally, Morgan Stanley dropped their target price on shares of Chubb from $166.00 to $153.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $158.00.
Shares of Chubb stock opened at $134.25 on Monday. The firm has a market cap of $61.63 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Chubb Ltd has a 1-year low of $120.50 and a 1-year high of $157.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.02. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.63 billion. Chubb had a net margin of 15.37% and a return on equity of 9.71%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) EPS. As a group, equities analysts expect that Chubb Ltd will post 9.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 21st will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 20th. Chubb’s dividend payout ratio is presently 36.36%.
Chubb announced that its Board of Directors has approved a stock buyback plan on Thursday, November 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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