Prana Capital Management LP Invests $61.61 Million in Chubb Limited (NYSE:CB)

Prana Capital Management LP purchased a new stake in shares of Chubb Limited (NYSE:CB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 222,996 shares of the financial services provider’s stock, valued at approximately $61,614,000. Chubb comprises 2.9% of Prana Capital Management LP’s portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in shares of Chubb by 26.5% during the fourth quarter. Quantinno Capital Management LP now owns 37,945 shares of the financial services provider’s stock valued at $10,484,000 after purchasing an additional 7,951 shares during the period. Paradigm Capital Management LLC NV boosted its stake in shares of Chubb by 11.6% during the fourth quarter. Paradigm Capital Management LLC NV now owns 1,390 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 145 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $1,529,000. Nomura Holdings Inc. boosted its stake in shares of Chubb by 186.3% during the fourth quarter. Nomura Holdings Inc. now owns 20,880 shares of the financial services provider’s stock valued at $5,769,000 after purchasing an additional 13,587 shares during the period. Finally, Nearwater Capital Markets Ltd purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $9,947,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of recent analyst reports. Raymond James restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. JMP Securities restated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Jefferies Financial Group upped their target price on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods decreased their target price on Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.86.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. This trade represents a 11.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the sale, the chief executive officer now directly owns 584,395 shares in the company, valued at $170,321,922.75. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock valued at $18,562,730 over the last quarter. 0.77% of the stock is currently owned by company insiders.

Chubb Trading Down 1.1%

Chubb stock opened at $282.11 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The stock has a market capitalization of $113.05 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The business’s fifty day moving average is $288.39 and its 200 day moving average is $280.63.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. On average, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.91 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.29%. Chubb’s payout ratio is 17.52%.

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.