AQR Capital Management LLC Raises Stock Holdings in Chubb Limited $CB

AQR Capital Management LLC lifted its holdings in shares of Chubb Limited (NYSE:CB) by 13.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,598,583 shares of the financial services provider’s stock after buying an additional 188,134 shares during the period. AQR Capital Management LLC’s holdings in Chubb were worth $456,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Abbot Financial Management Inc. grew its stake in Chubb by 17.8% during the 2nd quarter. Abbot Financial Management Inc. now owns 3,881 shares of the financial services provider’s stock valued at $1,125,000 after acquiring an additional 587 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of Chubb in the 2nd quarter valued at $965,000. Challenger Wealth Management boosted its stake in Chubb by 5.6% during the second quarter. Challenger Wealth Management now owns 1,915 shares of the financial services provider’s stock worth $555,000 after buying an additional 102 shares during the period. Florida Financial Advisors LLC boosted its position in shares of Chubb by 14.0% during the 2nd quarter. Florida Financial Advisors LLC now owns 1,731 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 213 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Chubb by 0.4% in the second quarter. California State Teachers Retirement System now owns 602,189 shares of the financial services provider’s stock valued at $174,466,000 after buying an additional 2,561 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.8%

CB stock opened at $308.45 on Friday. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $308.98. The firm has a market capitalization of $121.39 billion, a PE ratio of 12.87, a P/E/G ratio of 3.50 and a beta of 0.51. The company’s 50 day simple moving average is $288.27 and its 200-day simple moving average is $282.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.72 earnings per share. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s dividend payout ratio is currently 16.19%.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. The trade was a 8.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Lupica sold 16,375 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. The trade was a 18.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 57,333 shares of company stock valued at $16,629,873. Insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CB shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research note on Monday, November 24th. Wolfe Research raised their price objective on shares of Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America boosted their target price on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a report on Monday, October 13th. Morgan Stanley increased their price target on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, Jefferies Financial Group lifted their target price on Chubb from $297.00 to $302.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and an average price target of $309.79.

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.