Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Chubb Limited (NYSE:CB – Get Rating) by 10.2% in the first quarter, HoldingsChannel.com reports. The firm owned 118,288 shares of the financial services provider’s stock after buying an additional 10,948 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chubb were worth $25,302,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in Chubb by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,535 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 108 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Chubb by 71.5% in the fourth quarter. Victory Capital Management Inc. now owns 90,734 shares of the financial services provider’s stock valued at $17,540,000 after purchasing an additional 37,838 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Chubb in the fourth quarter valued at approximately $41,798,000. Diligent Investors LLC acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $233,000. Finally, United Asset Strategies Inc. acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $403,000. 88.86% of the stock is owned by hedge funds and other institutional investors.
NYSE:CB opened at $197.92 on Friday. The stock has a fifty day moving average price of $203.62 and a two-hundred day moving average price of $203.35. The stock has a market capitalization of $83.86 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.30 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Limited has a 1 year low of $157.19 and a 1 year high of $218.99.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be given a $0.83 dividend. The ex-dividend date is Thursday, June 16th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Chubb’s previous quarterly dividend of $0.80. Chubb’s dividend payout ratio (DPR) is currently 17.68%.
Chubb announced that its board has approved a share repurchase plan on Thursday, May 19th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
CB has been the subject of several research analyst reports. Barclays decreased their price objective on Chubb from $250.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, May 20th. Raymond James increased their price objective on Chubb from $240.00 to $250.00 in a report on Thursday, April 28th. Royal Bank of Canada upped their price target on Chubb from $230.00 to $239.00 and gave the stock an “outperform” rating in a research note on Monday, April 4th. Morgan Stanley cut their price target on Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Finally, StockNews.com assumed coverage on Chubb in a research note on Thursday, March 31st. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.14.
In other news, COO John W. Keogh sold 64,565 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $208.39, for a total value of $13,454,700.35. Following the completion of the transaction, the chief operating officer now owns 230,236 shares in the company, valued at $47,978,880.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Timothy Alan Boroughs sold 15,933 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $211.83, for a total value of $3,375,087.39. Following the completion of the transaction, the executive vice president now owns 65,667 shares of the company’s stock, valued at approximately $13,910,240.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,824 shares of company stock valued at $29,574,333. Company insiders own 0.39% of the company’s stock.
Chubb Company Profile (Get Rating)
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
- Get a free copy of the StockNews.com research report on Chubb (CB)
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