Van ECK Associates Corp Increases Stock Position in Chubb Limited (NYSE:CB)

Van ECK Associates Corp raised its stake in shares of Chubb Limited (NYSE:CB) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,028 shares of the financial services provider’s stock after acquiring an additional 417 shares during the period. Van ECK Associates Corp’s holdings in Chubb were worth $2,944,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp grew its stake in Chubb by 1.2% during the 3rd quarter. Mackenzie Financial Corp now owns 74,041 shares of the financial services provider’s stock worth $15,172,000 after purchasing an additional 906 shares in the last quarter. AMF Tjanstepension AB grew its stake in shares of Chubb by 1.1% during the third quarter. AMF Tjanstepension AB now owns 43,552 shares of the financial services provider’s stock worth $9,096,000 after purchasing an additional 490 shares in the last quarter. Waldron Private Wealth LLC increased its holdings in Chubb by 4.6% in the third quarter. Waldron Private Wealth LLC now owns 2,778 shares of the financial services provider’s stock valued at $580,000 after buying an additional 121 shares during the last quarter. Kanawha Capital Management LLC raised its stake in Chubb by 7.0% in the third quarter. Kanawha Capital Management LLC now owns 54,391 shares of the financial services provider’s stock valued at $11,323,000 after buying an additional 3,553 shares in the last quarter. Finally, NBT Bank N A NY purchased a new stake in Chubb during the 3rd quarter worth about $1,821,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE CB opened at $252.05 on Tuesday. The stock has a fifty day moving average price of $251.90 and a 200 day moving average price of $237.45. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $260.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $102.35 billion, a PE ratio of 11.19, a P/E/G ratio of 1.17 and a beta of 0.63.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter last year, the business earned $4.41 EPS. The business’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Chubb Limited will post 21.18 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s dividend payout ratio is presently 15.27%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CB shares. Evercore ISI raised their target price on Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. HSBC reaffirmed a “hold” rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Royal Bank of Canada reduced their price target on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $266.89.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 34,464 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the transaction, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 33,150 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the completion of the transaction, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at $12,879,483.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,863 shares of company stock worth $28,007,307. Company insiders own 0.86% of the company’s stock.

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.