Chubb Limited $CB Stake Increased by Legal & General Group Plc

Legal & General Group Plc boosted its stake in Chubb Limited (NYSE:CB) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,461,397 shares of the financial services provider’s stock after acquiring an additional 25,767 shares during the period. Legal & General Group Plc owned 0.63% of Chubb worth $694,729,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CB. Westbourne Investment Advisors Inc. lifted its holdings in Chubb by 12.3% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after buying an additional 2,427 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Chubb by 166.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $1,046,000 after acquiring an additional 2,315 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Chubb in the 3rd quarter valued at approximately $3,123,000. Liberty One Investment Management LLC acquired a new stake in shares of Chubb during the 3rd quarter valued at approximately $51,167,000. Finally, Cooke & Bieler LP lifted its stake in Chubb by 21.3% during the third quarter. Cooke & Bieler LP now owns 606,011 shares of the financial services provider’s stock worth $171,047,000 after purchasing an additional 106,237 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 price objective on shares of Chubb in a report on Thursday, February 5th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Bank of America reduced their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a research report on Friday, January 16th. Morgan Stanley set a $350.00 price target on shares of Chubb in a research report on Friday, January 16th. Finally, Citigroup increased their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $340.81.

Chubb Stock Up 0.3%

CB stock opened at $325.32 on Wednesday. The firm has a market cap of $126.93 billion, a PE ratio of 12.64, a P/E/G ratio of 2.03 and a beta of 0.46. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a 50 day simple moving average of $318.61 and a 200 day simple moving average of $298.62.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the prior year, the company earned $6.02 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is 15.08%.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president directly owned 11,810 shares of the company’s stock, valued at $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.86% of the company’s stock.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.