Swiss Life Asset Management Ltd Purchases 4,081 Shares of Chubb Limited $CB

Swiss Life Asset Management Ltd raised its position in shares of Chubb Limited (NYSE:CB) by 9.5% during the third quarter, HoldingsChannel reports. The firm owned 47,163 shares of the financial services provider’s stock after purchasing an additional 4,081 shares during the period. Swiss Life Asset Management Ltd’s holdings in Chubb were worth $13,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CB. Berkshire Hathaway Inc increased its position in shares of Chubb by 15.9% during 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 lifted its position in Chubb by 0.4% in 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 during the last quarter. Ameriprise Financial Inc. boosted its stake in Chubb by 9.2% in the third 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 boosted its stake in Chubb by 11.6% in the second 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 position in Chubb during the second quarter valued at approximately $1,195,137,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,877 shares of company stock worth $14,885,226 in the last 90 days. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CB shares. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Morgan Stanley set a $350.00 target price on shares of Chubb in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research report on Monday, November 24th. Evercore boosted their price target on shares of Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, Bank of America cut their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $340.81.

Chubb Trading Down 0.2%

NYSE:CB opened at $322.86 on Friday. The firm has a market capitalization of $125.97 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.03 and a beta of 0.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $321.25 and a 200 day moving average of $301.24. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same quarter last year, the firm earned $6.02 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

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.