Novare Capital Management LLC Has $5.85 Million Holdings in Chubb Ltd (CB)
Novare Capital Management LLC raised its holdings in shares of Chubb Ltd (NYSE:CB) by 5.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,735 shares of the financial services provider’s stock after purchasing an additional 2,114 shares during the period. Novare Capital Management LLC’s holdings in Chubb were worth $5,845,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kidder Stephen W boosted its holdings in Chubb by 0.7% in the second quarter. Kidder Stephen W now owns 48,951 shares of the financial services provider’s stock worth $6,219,000 after purchasing an additional 360 shares during the last quarter. HL Financial Services LLC boosted its holdings in Chubb by 16.6% in the second quarter. HL Financial Services LLC now owns 2,635 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 375 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its holdings in Chubb by 1.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 27,622 shares of the financial services provider’s stock worth $3,683,000 after purchasing an additional 383 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Chubb by 12.1% in the second quarter. Intact Investment Management Inc. now owns 3,700 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 400 shares during the last quarter. Finally, Tdam USA Inc. boosted its holdings in Chubb by 0.8% in the third quarter. Tdam USA Inc. now owns 52,108 shares of the financial services provider’s stock worth $6,914,000 after purchasing an additional 420 shares during the last quarter. 85.92% of the stock is owned by institutional investors and hedge funds.
In other Chubb news, insider Timothy Alan Boroughs sold 14,971 shares of Chubb stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $139.37, for a total value of $2,086,508.27. Following the completion of the transaction, the insider now directly owns 202,794 shares of the company’s stock, valued at approximately $28,263,399.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 227,994 shares of Chubb stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the completion of the transaction, the chief executive officer now directly owns 1,583,326 shares of the company’s stock, valued at $222,124,804.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 242,967 shares of company stock worth $34,072,088. 0.44% of the stock is currently owned by insiders.
Shares of NYSE CB opened at $132.69 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $61.08 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.33 and a beta of 1.02. Chubb Ltd has a 52-week low of $120.50 and a 52-week high of $157.50.
Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.02. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.63 billion. Chubb had a net margin of 15.37% and a return on equity of 9.71%. Chubb’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS. On average, equities analysts forecast that Chubb Ltd will post 9.95 earnings per share for the current year.
Chubb declared that its Board of Directors has approved a share repurchase program on Thursday, November 15th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 21st will be issued a $0.73 dividend. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $2.92 dividend on an annualized basis and a yield of 2.20%. Chubb’s dividend payout ratio is currently 36.36%.
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Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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