Chubb Ltd (CB) Stake Lowered by Allianz Asset Management GmbH
Allianz Asset Management GmbH lessened its position in Chubb Ltd (NYSE:CB) by 45.3% during the 4th quarter, HoldingsChannel reports. The firm owned 83,369 shares of the financial services provider’s stock after selling 69,060 shares during the quarter. Allianz Asset Management GmbH’s holdings in Chubb were worth $12,183,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CB. Welch Group LLC acquired a new position in Chubb during the 4th quarter worth about $110,000. Horan Capital Advisors LLC. acquired a new position in Chubb during the 3rd quarter worth about $133,000. Covenant Multifamily Offices LLC acquired a new position in Chubb during the 4th quarter worth about $135,000. Zions Bancorporation lifted its position in Chubb by 716.3% during the 3rd quarter. Zions Bancorporation now owns 1,151 shares of the financial services provider’s stock worth $164,000 after buying an additional 1,010 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in Chubb during the 3rd quarter worth about $198,000. Institutional investors own 88.31% of the company’s stock.
Shares of Chubb Ltd (NYSE CB) opened at $144.00 on Monday. The firm has a market capitalization of $66,830.00, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Chubb Ltd has a twelve month low of $133.82 and a twelve month high of $157.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, March 29th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.97%. Chubb’s dividend payout ratio (DPR) is presently 32.20%.
Chubb announced that its Board of Directors has approved a share repurchase plan on Thursday, December 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several research analysts recently issued reports on CB shares. Barclays upped their price target on shares of Chubb from $169.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Wells Fargo & Co reiterated a “buy” rating and set a $169.00 price target on shares of Chubb in a research report on Tuesday, January 30th. Credit Suisse Group reiterated a “neutral” rating and set a $156.00 price target on shares of Chubb in a research report on Tuesday, December 19th. Goldman Sachs Group started coverage on shares of Chubb in a research report on Monday, December 4th. They set a “buy” rating and a $167.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $170.00 price target on shares of Chubb in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $165.25.
In other news, insider Juan C. Andrade sold 9,373 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $146.06, for a total value of $1,369,020.38. Following the completion of the sale, the insider now directly owns 110,195 shares of the company’s stock, valued at approximately $16,095,081.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 95,761 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $145.56, for a total value of $13,938,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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