Chubb Limited (NYSE:CB) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its position in Chubb Limited (NYSE:CB) by 18.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 337,644 shares of the financial services provider’s stock after acquiring an additional 53,243 shares during the quarter. Point72 Asset Management L.P.’s holdings in Chubb were worth $53,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CB. BlackRock Inc. raised its holdings in shares of Chubb by 1.0% in the first quarter. BlackRock Inc. now owns 29,761,553 shares of the financial services provider’s stock worth $4,701,433,000 after buying an additional 306,381 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Chubb by 14.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,852,906 shares of the financial services provider’s stock worth $3,671,411,000 after buying an additional 3,020,693 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Chubb by 2.0% in the first quarter. Geode Capital Management LLC now owns 7,090,606 shares of the financial services provider’s stock worth $1,117,020,000 after buying an additional 139,461 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Chubb by 3.9% in the first quarter. Ameriprise Financial Inc. now owns 4,999,276 shares of the financial services provider’s stock worth $787,950,000 after buying an additional 189,004 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Chubb by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 4,784,871 shares of the financial services provider’s stock worth $755,867,000 after buying an additional 37,957 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

A number of research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Chubb from $175.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. raised their target price on shares of Chubb from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, June 21st. JPMorgan Chase & Co. raised their target price on shares of Chubb from $155.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Barclays raised their target price on shares of Chubb from $178.00 to $187.00 and gave the stock an “overweight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Chubb from $142.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Chubb has a consensus rating of “Buy” and an average price target of $170.31.

In related news, EVP Joseph F. Wayland sold 4,000 shares of the business’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $175.66, for a total transaction of $702,640.00. Following the transaction, the executive vice president now directly owns 83,683 shares in the company, valued at $14,699,755.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Paul J. Krump sold 33,123 shares of the business’s stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $172.07, for a total transaction of $5,699,474.61. Following the transaction, the insider now owns 118,702 shares in the company, valued at $20,425,053.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,633 shares of company stock worth $8,153,877. Company insiders own 0.41% of the company’s stock.

CB opened at $169.42 on Thursday. Chubb Limited has a fifty-two week low of $111.93 and a fifty-two week high of $179.01. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $165.08. The stock has a market capitalization of $76.19 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.46 and a beta of 0.70.

Chubb (NYSE:CB) last announced its earnings results on Monday, April 26th. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.07. Chubb had a net margin of 14.51% and a return on equity of 5.63%. The business had revenue of $8.04 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the business earned $2.68 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts predict that Chubb Limited will post 11.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 9th. Stockholders of record on Friday, June 18th were given a $0.80 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, June 17th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. Chubb’s dividend payout ratio (DPR) is 43.78%.

Chubb declared that its board has authorized a share repurchase program on Monday, July 19th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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