Gabelli Funds LLC Raises Holdings in Chubb Limited $CB

Gabelli Funds LLC lifted its position in shares of Chubb Limited (NYSE:CB) by 60.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,215 shares of the financial services provider’s stock after acquiring an additional 7,271 shares during the quarter. Gabelli Funds LLC’s holdings in Chubb were worth $6,263,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Chubb during the fourth quarter worth about $1,081,190,000. Price T Rowe Associates Inc. MD raised its position in shares of Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. Berkshire Hathaway Inc raised its position in shares of Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Chubb during the 4th quarter valued at approximately $795,378,000. Finally, GQG Partners LLC lifted its stake in shares of Chubb by 15.2% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of recent research reports. Barclays set a $387.00 price objective on shares of Chubb in a research note on Tuesday, July 7th. UBS Group raised their price target on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Evercore reiterated an “outperform” rating and issued a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Wolfe Research boosted their price objective on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $360.09.

Chubb Trading Down 0.2%

Chubb stock opened at $359.00 on Tuesday. The stock has a market cap of $139.24 billion, a P/E ratio of 12.70, a PEG ratio of 1.80 and a beta of 0.40. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The firm’s fifty day moving average price is $336.13 and its 200-day moving average price is $327.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.36.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $16.01 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter last year, the business posted $6.14 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Chubb Limited will post 27.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is 14.43%.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Chubb Company 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.