Cornerstone Investment Partners LLC Acquires 2,054 Shares of Chubb Limited (NYSE:CB)

Cornerstone Investment Partners LLC lifted its holdings in Chubb Limited (NYSE:CB) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,098 shares of the financial services provider’s stock after acquiring an additional 2,054 shares during the quarter. Chubb makes up approximately 3.9% of Cornerstone Investment Partners LLC’s holdings, making the stock its 7th largest holding. Cornerstone Investment Partners LLC owned about 0.07% of Chubb worth $68,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CB. ICA Group Wealth Management LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $25,000. IMA Wealth Inc. lifted its holdings in Chubb by 275.7% during the 2nd quarter. IMA Wealth Inc. now owns 139 shares of the financial services provider’s stock worth $27,000 after buying an additional 102 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Chubb during the 3rd quarter worth $28,000. ZRC Wealth Management LLC acquired a new position in Chubb during the 4th quarter worth $29,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Chubb during the 4th quarter worth $32,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 34,464 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the transaction, the insider now owns 130,937 shares in the company, valued at approximately $33,902,208.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider John J. Lupica sold 34,464 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the transaction, the insider now directly owns 130,937 shares in the company, valued at approximately $33,902,208.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the transaction, the executive vice president now owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,043 shares of company stock worth $29,766,694. Corporate insiders own 0.86% of the company’s stock.

Chubb Trading Up 1.6 %

Shares of CB traded up $4.01 during trading hours on Friday, reaching $249.40. The stock had a trading volume of 478,272 shares, compared to its average volume of 1,700,246. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $260.58. The firm has a 50-day moving average of $252.45 and a 200 day moving average of $233.88. The company has a market cap of $101.25 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.15 and a beta of 0.62.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.07 by $3.23. The firm had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Chubb had a return on equity of 16.45% and a net margin of 18.11%. On average, sell-side analysts expect that Chubb Limited will post 21.13 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is presently 15.76%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CB. UBS Group upped their price objective on Chubb from $245.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. HSBC reaffirmed a “hold” rating and set a $270.00 price objective (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Raymond James upped their price objective on Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. Finally, Roth Mkm upped their target price on shares of Chubb from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chubb presently has an average rating of “Moderate Buy” and an average price target of $266.37.

Chubb Company Profile

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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.