TritonPoint Partners LLC Makes New Investment in Chubb Limited $CB

TritonPoint Partners LLC acquired a new position in shares of Chubb Limited (NYSE:CB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,153 shares of the financial services provider’s stock, valued at approximately $987,000.

Other large investors also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc raised its position in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares during the last quarter. State Street Corp raised its position in shares of Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares during the last quarter. GQG Partners LLC raised its position in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after buying an additional 1,647,729 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after buying an additional 427,512 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of 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 valued at $1,428,278,000 after buying an additional 513,852 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Chubb stock opened at $328.06 on Monday. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The stock has a market cap of $127.24 billion, a P/E ratio of 11.58, a PEG ratio of 1.68 and a beta of 0.41. The company has a 50-day moving average price of $324.93 and a 200 day moving average price of $319.10. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. Sell-side analysts anticipate that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, June 12th. Chubb’s payout ratio is 14.41%.

Analysts Set New Price Targets

CB has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on shares of Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Bank of America reduced their target price on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Jefferies Financial Group reduced their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Wolfe Research increased their target price on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $349.10.

Insider Activity

In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the transaction, the director directly owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

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.