Beutel Goodman & Co Ltd. Purchases 1,007,698 Shares of Chubb Limited (NYSE:CB)

Beutel Goodman & Co Ltd. raised its position in shares of Chubb Limited (NYSE:CB) by 1,007,698.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,007,798 shares of the financial services provider’s stock after purchasing an additional 1,007,698 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.25% of Chubb worth $278,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Larson Financial Group LLC increased its holdings in Chubb by 146.7% during the third quarter. Larson Financial Group LLC now owns 565 shares of the financial services provider’s stock valued at $163,000 after buying an additional 336 shares during the last quarter. Truvestments Capital LLC bought a new position in Chubb in the 3rd quarter worth $30,000. Townsquare Capital LLC lifted its position in Chubb by 37.1% during the third quarter. Townsquare Capital LLC now owns 9,274 shares of the financial services provider’s stock valued at $2,675,000 after purchasing an additional 2,511 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in Chubb during the third quarter valued at about $266,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Chubb by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,931 shares of the financial services provider’s stock worth $49,583,000 after buying an additional 2,567 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the sale, the executive vice president now directly owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. This trade represents a 13.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. The trade was a 4.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. JMP Securities restated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $301.00.

Chubb Price Performance

CB stock opened at $296.36 on Friday. The company has a fifty day simple moving average of $279.26 and a two-hundred day simple moving average of $281.50. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $118.67 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Chubb Company Profile

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.