CenterBook Partners LP Invests $849,000 in Chubb Limited $CB

CenterBook Partners LP purchased a new position in Chubb Limited (NYSE:CB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,720 shares of the financial services provider’s stock, valued at approximately $849,000.

Several other hedge funds have also recently bought and sold shares of the company. Berkshire Hathaway Inc lifted its position in Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares during the last quarter. State Street Corp raised its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Chubb by 9.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after buying an additional 427,512 shares in the last quarter. Bank of America Corp DE raised its position in shares of Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after buying an additional 513,852 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Chubb during the 4th quarter worth about $1,081,190,000. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CB has been the topic of a number of recent analyst reports. Evercore boosted their price target on shares of Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Mizuho reduced their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. HSBC boosted their price objective on shares of Chubb from $362.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $349.43.

Chubb Price Performance

NYSE CB opened at $330.55 on Thursday. The company has a market cap of $128.21 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.66 and a beta of 0.41. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a fifty day simple moving average of $324.87 and a 200 day simple moving average of $318.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. On average, sell-side analysts predict that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

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

Chubb Profile

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.