Gamco Investors INC. ET AL Increases Holdings in Chubb Limited $CB

Gamco Investors INC. ET AL raised its stake in Chubb Limited (NYSE:CB) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,399 shares of the financial services provider’s stock after acquiring an additional 3,100 shares during the period. Gamco Investors INC. ET AL’s holdings in Chubb were worth $5,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GQG Partners LLC grew its position in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. GAMMA Investing LLC raised its holdings in Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after buying an additional 2,078,390 shares during the last quarter. Nuveen LLC bought a new position in shares of Chubb in the first quarter worth approximately $562,221,000. Royal Bank of Canada grew its holdings in shares of Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after buying an additional 1,403,545 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Chubb during the fourth quarter valued at approximately $336,972,000. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CB. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price for the company. in a report on Tuesday, May 20th. Keefe, Bruyette & Woods upped their price target on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. UBS Group reduced their price objective on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. Finally, Wells Fargo & Company decreased their target price on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $302.00.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the transaction, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $272.96 on Thursday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market capitalization of $108.83 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $276.11 and a 200 day moving average of $282.55.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the company posted $5.38 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s payout ratio is currently 17.12%.

Chubb announced that its Board of Directors has initiated a share buyback program on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.