Franklin Resources Inc. Cuts Position in Chubb Limited (NYSE:CB)

Franklin Resources Inc. reduced its holdings in shares of Chubb Limited (NYSE:CB) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,121 shares of the financial services provider’s stock after selling 11,864 shares during the quarter. Franklin Resources Inc. owned 0.08% of Chubb worth $85,686,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Chubb during the 4th quarter worth $1,169,720,000. Raymond James Financial Inc. acquired a new position in shares of Chubb during the fourth quarter worth about $1,158,897,000. GQG Partners LLC boosted its position in shares of Chubb by 36.3% in the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after buying an additional 1,178,628 shares during the period. Beutel Goodman & Co Ltd. grew its stake in shares of Chubb by 1,007,698.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock valued at $278,454,000 after buying an additional 1,007,698 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Chubb by 41,494.7% during the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after buying an additional 810,807 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Chubb stock opened at $302.02 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $304.34. The company has a fifty day moving average price of $281.24 and a two-hundred day moving average price of $281.74. The company has a market cap of $120.93 billion, a PE ratio of 13.29, a P/E/G ratio of 3.36 and a beta of 0.66.

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

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s payout ratio is 16.02%.

Insider Buying and Selling

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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. This represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,470 shares of company stock valued at $18,562,730. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. Barclays lowered their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Finally, Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $303.14.

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.