Bank of Nova Scotia Increases Stock Position in Chubb Limited (NYSE:CB)

Bank of Nova Scotia increased its stake in shares of Chubb Limited (NYSE:CB) by 675.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 378,641 shares of the financial services provider’s stock after purchasing an additional 329,797 shares during the period. Bank of Nova Scotia owned approximately 0.09% of Chubb worth $104,619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. FIL Ltd lifted its holdings in shares of Chubb by 131.0% during the 4th quarter. FIL Ltd now owns 11,160 shares of the financial services provider’s stock valued at $3,084,000 after buying an additional 6,329 shares during the period. Southeast Asset Advisors LLC lifted its holdings in Chubb by 16.8% in the fourth quarter. Southeast Asset Advisors LLC now owns 918 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 132 shares during the period. Canopy Partners LLC boosted its position in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 2,340 shares during the last quarter. Twin Capital Management Inc. grew its stake in shares of Chubb by 13.1% during the 4th quarter. Twin Capital Management Inc. now owns 15,200 shares of the financial services provider’s stock valued at $4,200,000 after purchasing an additional 1,762 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Chubb by 6.6% during the 4th quarter. Invesco Ltd. now owns 2,599,581 shares of the financial services provider’s stock valued at $718,264,000 after purchasing an additional 161,766 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other news, CAO George F. Ohsiek sold 763 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the transaction, the chief executive officer now directly 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. Insiders have sold 63,470 shares of company stock valued at $18,562,730 over the last ninety days. 0.86% of the stock is owned by insiders.

Chubb Price Performance

Shares of Chubb stock opened at $274.13 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $306.91. The stock has a 50 day moving average of $282.20 and a 200 day moving average of $281.58. The firm has a market cap of $109.76 billion, a PE ratio of 12.07, a PEG ratio of 3.36 and a beta of 0.47.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping 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%. On average, research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.91 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.33%. Chubb’s dividend payout ratio is currently 16.02%.

Analyst Ratings Changes

CB has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Barclays cut their price objective on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $303.14.

Chubb 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.