Bessemer Group Inc. Has $4.19 Million Stock Holdings in Chubb Limited (NYSE:CB)

Bessemer Group Inc. trimmed its holdings in Chubb Limited (NYSE:CB) by 45.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,880 shares of the financial services provider’s stock after selling 11,407 shares during the quarter. Bessemer Group Inc.’s holdings in Chubb were worth $4,193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CB. California Public Employees Retirement System increased its stake in shares of Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock valued at $373,110,000 after buying an additional 14,610 shares in the last quarter. Canopy Partners LLC grew its position in shares of Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC acquired a new position in shares of Chubb in the 4th quarter valued at approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock valued at $760,853,000 after purchasing an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Chubb in the 4th quarter valued at approximately $1,158,897,000. 83.81% of the stock is owned by institutional investors.

Insider Activity

In related news, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the transaction, the chief operating officer now directly owns 247,538 shares of the company’s stock, valued at $72,526,158.62. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Chubb Trading Up 0.5%

Shares of NYSE CB opened at $285.12 on Friday. The business’s 50 day moving average is $287.84 and its two-hundred day moving average is $281.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The stock has a market capitalization of $114.26 billion, a P/E ratio of 13.72, a PEG ratio of 3.15 and a beta of 0.54.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has approved a stock buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is currently 18.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft cut Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective on the stock. in a research report on Tuesday, May 20th. UBS Group increased their price objective on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Piper Sandler increased their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Finally, HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

About Chubb

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.