Redpoint Investment Management Pty Ltd lifted its stake in Chubb Limited (NYSE:CB) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,717 shares of the financial services provider’s stock after acquiring an additional 656 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Chubb were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CB. Arlington Partners LLC acquired a new stake in shares of Chubb during the fourth quarter valued at approximately $27,000. FinTrust Capital Advisors LLC raised its holdings in shares of Chubb by 95.3% during the second quarter. FinTrust Capital Advisors LLC now owns 332 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 162 shares during the period. Horan Capital Advisors LLC. acquired a new stake in shares of Chubb during the third quarter valued at approximately $54,000. Front Row Advisors LLC raised its holdings in shares of Chubb by 21.5% during the third quarter. Front Row Advisors LLC now owns 384 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 68 shares during the period. Finally, Field & Main Bank acquired a new stake in shares of Chubb during the third quarter valued at approximately $59,000. 85.79% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Chubb from a “c” rating to a “b-” rating in a report on Thursday, October 29th. The Goldman Sachs Group upgraded shares of Chubb from a “buy” rating to a “conviction-buy” rating in a research note on Friday, January 8th. Bank of America lowered shares of Chubb from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $132.00 to $138.00 in a research note on Tuesday, December 22nd. Morgan Stanley upped their price objective on shares of Chubb from $149.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Credit Suisse Group upped their price objective on shares of Chubb from $144.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $155.63.
Chubb (NYSE:CB) last announced its quarterly earnings data on Sunday, November 1st. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.19). Chubb had a net margin of 6.24% and a return on equity of 5.33%. The business had revenue of $10.09 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the prior year, the company posted $2.70 EPS. On average, sell-side analysts predict that Chubb Limited will post 7.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 8th. Stockholders of record on Friday, December 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, December 17th. Chubb’s dividend payout ratio is 30.86%.
Chubb announced that its Board of Directors has initiated a share repurchase program on Thursday, November 19th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Timothy Alan Boroughs sold 17,321 shares of the stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $152.45, for a total transaction of $2,640,586.45. Following the completion of the sale, the executive vice president now owns 185,465 shares in the company, valued at approximately $28,274,139.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 132,504 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $148.86, for a total transaction of $19,724,545.44. Following the sale, the chief executive officer now owns 814,578 shares of the company’s stock, valued at approximately $121,258,081.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,683 shares of company stock valued at $27,794,915. Corporate insiders own 0.37% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, casualty, workers' compensation, package policies, risk management, professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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