Assenagon Asset Management S.A. Acquires 127,492 Shares of Chubb Limited $CB

Assenagon Asset Management S.A. boosted its holdings in shares of Chubb Limited (NYSE:CB) by 1,180.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,288 shares of the financial services provider’s stock after purchasing an additional 127,492 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Chubb were worth $45,072,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cherry Tree Wealth Management LLC raised its position in shares of Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after buying an additional 31 shares in the last quarter. Phillips Wealth Planners LLC grew its position in Chubb by 1.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 31 shares in the last quarter. Hoxton Planning & Management LLC increased its stake in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 31 shares during the last quarter. Kathmere Capital Management LLC increased its stake in Chubb by 2.7% during the fourth quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 34 shares during the last quarter. Finally, Wright Investors Service Inc. raised its position in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider’s stock valued at $1,538,000 after purchasing an additional 34 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of Chubb stock opened at $330.95 on Friday. The stock’s fifty day moving average is $324.86 and its two-hundred day moving average is $321.17. The company has a market capitalization of $128.36 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, analysts expect that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is 14.41%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CB. Piper Sandler raised their price objective on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Bank of America decreased their price target on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods raised their price target on Chubb from $373.00 to $374.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, June 12th. Finally, BMO Capital Markets boosted their price objective on shares of Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $349.10.

About Chubb

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.