Toroso Investments LLC boosted its holdings in shares of Chubb Limited (NYSE:CB – Get Rating) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,065 shares of the financial services provider’s stock after buying an additional 1,066 shares during the quarter. Toroso Investments LLC’s holdings in Chubb were worth $2,367,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CB. Chicago Partners Investment Group LLC bought a new position in shares of Chubb in the first quarter worth approximately $220,000. Capital World Investors boosted its position in shares of Chubb by 4.6% in the first quarter. Capital World Investors now owns 12,293,516 shares of the financial services provider’s stock worth $2,629,773,000 after purchasing an additional 541,010 shares during the period. Capital International Sarl boosted its position in shares of Chubb by 41.7% in the first quarter. Capital International Sarl now owns 51,977 shares of the financial services provider’s stock worth $11,118,000 after purchasing an additional 15,290 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Chubb by 5.7% in the first quarter. Orion Portfolio Solutions LLC now owns 3,735 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 200 shares during the period. Finally, Nomura Holdings Inc. bought a new position in shares of Chubb in the first quarter worth approximately $2,836,000. 87.97% of the stock is currently owned by institutional investors.
Chubb Price Performance
Chubb stock opened at $192.16 on Friday. The company has a market cap of $80.25 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.23 and a beta of 0.67. The firm’s fifty day moving average is $191.10 and its 200 day moving average is $200.93. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.28. Chubb Limited has a 52-week low of $171.96 and a 52-week high of $218.99.
Chubb Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 16th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 15th. Chubb’s dividend payout ratio is currently 20.02%.
Chubb declared that its board has approved a share buyback program on Thursday, May 19th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CB. Wells Fargo & Company upped their price target on shares of Chubb from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Jefferies Financial Group dropped their target price on shares of Chubb from $247.00 to $244.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Citigroup began coverage on shares of Chubb in a research report on Monday, May 23rd. They set a “neutral” rating and a $209.00 target price for the company. Morgan Stanley dropped their target price on shares of Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. Finally, Barclays dropped their target price on shares of Chubb from $250.00 to $249.00 and set an “overweight” rating for the company in a research report on Friday, May 20th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.83.
In other news, CEO Evan G. Greenberg sold 25,792 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $193.86, for a total value of $5,000,037.12. Following the sale, the chief executive officer now owns 594,671 shares of the company’s stock, valued at $115,282,920.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.
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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