Fort Washington Investment Advisors Inc. OH trimmed its position in Chubb Ltd (NYSE:CB) by 19.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,758 shares of the financial services provider’s stock after selling 11,082 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Chubb were worth $5,782,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bollard Group LLC raised its stake in Chubb by 6.2% during the 4th quarter. Bollard Group LLC now owns 1,290 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 75 shares during the period. Meristem Family Wealth LLC raised its stake in Chubb by 2.9% during the 3rd quarter. Meristem Family Wealth LLC now owns 2,766 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 79 shares during the period. Parkside Financial Bank & Trust raised its stake in Chubb by 2.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,188 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 79 shares during the period. Atwood & Palmer Inc. raised its stake in Chubb by 38.3% during the 4th quarter. Atwood & Palmer Inc. now owns 289 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 80 shares during the period. Finally, Lourd Capital LLC raised its stake in Chubb by 3.5% during the 4th quarter. Lourd Capital LLC now owns 2,429 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.
CB stock opened at $132.24 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.35 and a quick ratio of 0.31. Chubb Ltd has a 52-week low of $119.54 and a 52-week high of $148.58. The stock has a market cap of $60.94 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.21 and a beta of 0.82.
Chubb announced that its board has authorized a stock buyback plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes 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 board believes its shares are undervalued.
In related news, Director Michael G. Atieh sold 1,200 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $133.27, for a total value of $159,924.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 1,242 shares of company stock valued at $165,544. 0.44% of the stock is owned by corporate insiders.
CB has been the topic of several recent analyst reports. Citigroup cut their target price on shares of Chubb from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. Wells Fargo & Co reissued a “buy” rating and set a $160.00 target price on shares of Chubb in a research note on Monday, December 3rd. Compass Point started coverage on shares of Chubb in a research note on Tuesday, January 15th. They issued a “buy” rating and a $165.00 price target on the stock. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Finally, Raymond James dropped their price target on shares of Chubb from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $154.60.
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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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