Renaissance Technologies LLC Takes Position in Chubb Limited (NYSE:CB)

Renaissance Technologies LLC acquired a new stake in shares of Chubb Limited (NYSE:CB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 71,999 shares of the financial services provider’s stock, valued at approximately $19,893,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Chubb in the 4th quarter valued at about $1,169,720,000. Raymond James Financial Inc. bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,158,897,000. GQG Partners LLC lifted its stake in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after purchasing an additional 1,178,628 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in Chubb by 1,007,698.0% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after buying an additional 1,007,698 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Chubb by 41,494.7% in the fourth quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock worth $224,566,000 after buying an additional 810,807 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the sale, the executive vice president now owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. The trade was a 13.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the sale, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock valued at $18,562,730 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Chubb Trading Up 0.3 %

NYSE CB opened at $283.30 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1-year low of $238.85 and a 1-year high of $306.91. The firm’s fifty day simple moving average is $283.03 and its 200-day simple moving average is $281.22. The company has a market capitalization of $113.51 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 3.36 and a beta of 0.47.

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

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s dividend payout ratio (DPR) is presently 16.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CB. JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research report on Wednesday, January 29th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of Chubb in a report on Thursday, January 30th. UBS Group raised their target price on shares of Chubb from $298.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Finally, Barclays cut their price target on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb has an average rating of “Hold” and an average target price of $307.21.

Chubb Company 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.