Pitcairn Co. Acquires 472 Shares of Chubb Limited (NYSE:CB)

Pitcairn Co. raised its stake in Chubb Limited (NYSE:CB) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,930 shares of the financial services provider’s stock after acquiring an additional 472 shares during the quarter. Pitcairn Co.’s holdings in Chubb were worth $1,638,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CB. Continuum Advisory LLC grew its position in Chubb by 56.5% during the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Chubb during the third quarter valued at about $29,000. Raelipskie Partnership bought a new stake in shares of Chubb during the third quarter worth about $29,000. Sierra Ocean LLC bought a new stake in shares of Chubb during the fourth quarter worth about $29,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CB. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Piper Sandler boosted their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their target price on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $303.14.

Chubb Stock Up 0.3 %

Chubb stock opened at $302.42 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $121.09 billion, a PE ratio of 13.31, a PEG ratio of 3.36 and a beta of 0.66. The firm’s fifty day moving average is $281.97 and its 200 day moving average is $281.88. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.91 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.20%. Chubb’s payout ratio is currently 16.02%.

Insider Buying and Selling at Chubb

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,470 shares of company stock valued at $18,562,730. Company insiders own 0.86% of the company’s stock.

About Chubb

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.