Elkhorn Investments LLC cut its holdings in Chubb Ltd (NYSE:CB) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,914 shares of the financial services provider’s stock after selling 1,162 shares during the quarter. Chubb accounts for 1.2% of Elkhorn Investments LLC’s portfolio, making the stock its 12th biggest holding. Elkhorn Investments LLC’s holdings in Chubb were worth $1,485,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CB. Valeo Financial Advisors LLC raised its holdings in Chubb by 90.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,643 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 1,257 shares during the last quarter. Global X Management Co. LLC raised its holdings in Chubb by 23.7% during the fourth quarter. Global X Management Co. LLC now owns 5,142 shares of the financial services provider’s stock worth $751,000 after purchasing an additional 984 shares during the last quarter. California Public Employees Retirement System raised its holdings in Chubb by 7.7% during the third quarter. California Public Employees Retirement System now owns 1,131,724 shares of the financial services provider’s stock worth $161,327,000 after purchasing an additional 81,255 shares during the last quarter. West Chester Capital Advisors Inc. acquired a new position in Chubb during the fourth quarter worth $620,000. Finally, PGGM Investments raised its holdings in Chubb by 42.8% during the fourth quarter. PGGM Investments now owns 633,800 shares of the financial services provider’s stock worth $92,617,000 after purchasing an additional 189,817 shares during the last quarter. Hedge funds and other institutional investors own 89.16% of the company’s stock.
Several equities analysts recently issued reports on the company. Bank of America lifted their price objective on Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Zacks Investment Research raised Chubb from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $170.00 price target on shares of Chubb in a report on Wednesday, January 31st. Goldman Sachs Group began coverage on Chubb in a report on Monday, December 4th. They issued a “buy” rating and a $167.00 price target for the company. Finally, Wells Fargo & Co set a $169.00 price target on Chubb and gave the stock a “buy” rating in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Chubb has an average rating of “Buy” and an average target price of $165.25.
Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.86. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 earnings per share. research analysts forecast that Chubb Ltd will post 10.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, March 29th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, March 28th. Chubb’s dividend payout ratio is currently 34.63%.
Chubb announced that its Board of Directors has approved a share buyback plan on Thursday, December 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CEO Evan G. Greenberg sold 95,761 shares of Chubb stock in a transaction on Thursday, December 21st. The stock was 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 owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Juan C. Andrade sold 9,373 shares of Chubb stock in a transaction on Wednesday, February 21st. The shares were 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 disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.
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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