Klingenstein Fields & Co. LP Grows Stake in Chubb Limited (NYSE:CB)

Klingenstein Fields & Co. LP increased its holdings in shares of Chubb Limited (NYSE:CB) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,405 shares of the financial services provider’s stock after purchasing an additional 613 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Chubb were worth $25,178,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new position in Chubb during the 4th quarter valued at approximately $25,000. IMA Wealth Inc. grew 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 valued at $27,000 after buying an additional 102 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in Chubb during the 4th quarter valued at approximately $29,000. Tennessee Valley Asset Management Partners purchased a new position in Chubb during the 4th quarter valued at approximately $32,000. Finally, Naples Money Management LLC purchased a new position in Chubb during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In other news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the transaction, the executive vice president now directly owns 50,486 shares in the company, valued at approximately $12,879,483.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the transaction, the chief accounting officer now owns 6,105 shares in the company, valued at $1,495,969.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is currently owned by company insiders.

Chubb Trading Up 2.0 %

CB traded up $4.82 during trading on Friday, hitting $250.21. 2,573,609 shares of the stock were exchanged, compared to its average volume of 1,372,569. The firm has a 50 day simple moving average of $252.51 and a 200 day simple moving average of $234.39. The firm has a market cap of $101.58 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.18 and a beta of 0.62. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $260.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The business had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $12.88 billion. As a group, equities analysts expect that Chubb Limited will post 21.32 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.37%. Chubb’s dividend payout ratio is presently 15.76%.

Analysts Set New Price Targets

CB has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 price objective on shares of Chubb in a research note on Monday, April 15th. UBS Group raised their price objective on Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Royal Bank of Canada raised their price objective on Chubb from $255.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Evercore ISI raised their price objective on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.37.

About Chubb

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.