Sawgrass Asset Management LLC Invests $352,000 in Chubb Limited (NYSE:CB)

Sawgrass Asset Management LLC bought a new stake in Chubb Limited (NYSE:CB) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,559 shares of the financial services provider’s stock, valued at approximately $352,000.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Chubb by 0.8% during the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock worth $3,855,996,000 after buying an additional 138,142 shares during the period. Deutsche Bank AG grew its stake in shares of Chubb by 426.8% in the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after purchasing an additional 13,059,385 shares during the last quarter. Northern Trust Corp grew its stake in shares of Chubb by 2.3% in the 3rd quarter. Northern Trust Corp now owns 4,221,419 shares of the financial services provider’s stock valued at $878,815,000 after purchasing an additional 93,885 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Chubb by 2.6% in the fourth quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock valued at $701,301,000 after purchasing an additional 77,453 shares during the period. Finally, Boston Partners raised its stake in shares of Chubb by 6.4% during the third quarter. Boston Partners now owns 2,850,197 shares of the financial services provider’s stock worth $594,006,000 after purchasing an additional 170,774 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE:CB traded down $0.10 during midday trading on Tuesday, hitting $251.95. 1,212,354 shares of the stock were exchanged, compared to its average volume of 1,726,294. The stock has a market cap of $102.31 billion, a P/E ratio of 11.18, a PEG ratio of 1.17 and a beta of 0.63. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $183.71 and a twelve month high of $260.58. The company has a 50 day moving average price of $251.85 and a 200-day moving average price of $237.76.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the company posted $4.41 EPS. The company’s revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that Chubb Limited will post 21.18 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.86 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a dividend yield of 1.37%. Chubb’s dividend payout ratio is currently 15.27%.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the transaction, the insider now owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the transaction, the executive vice president now owns 35,662 shares of the company’s stock, valued at approximately $9,228,612.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John J. Lupica sold 34,464 shares of Chubb stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The disclosure for this sale can be found here. Insiders have sold a total of 108,863 shares of company stock valued at $28,007,307 over the last quarter. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CB. StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada cut their price target on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. BMO Capital Markets raised their price objective on shares of Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research report on Monday, February 5th. Raymond James boosted their target price on Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group raised their price target on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.74.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.