Chubb Limited $CB Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in shares of Chubb Limited (NYSE:CB) by 87.5% during the 1st quarter, Holdings Channel reports. The firm owned 18,058 shares of the financial services provider’s stock after selling 125,986 shares during the quarter. Bank of Nova Scotia’s holdings in Chubb were worth $5,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in Chubb in the 4th quarter worth $1,081,190,000. Price T Rowe Associates Inc. MD grew its stake in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. Berkshire Hathaway Inc grew its stake in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Chubb in the fourth quarter valued at about $795,378,000. Finally, GQG Partners LLC raised its stake in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a report on Monday, July 20th. UBS Group raised their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Wolfe Research boosted their target price on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Bank of America cut their price target on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $360.09.

Chubb Stock Performance

NYSE:CB opened at $359.00 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $336.13 and its 200-day moving average price is $327.52. The company has a market cap of $139.24 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.80 and a beta of 0.40. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $365.29.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $16.01 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the firm posted $6.14 earnings per share. Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Chubb Limited will post 27.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a dividend of $1.02 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s dividend payout ratio (DPR) is 14.43%.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

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.