Assenagon Asset Management S.A. Raises Holdings in Chubb Limited $CB

Assenagon Asset Management S.A. raised its stake in shares of Chubb Limited (NYSE:CB) by 599.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,025 shares of the financial services provider’s stock after acquiring an additional 62,580 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Chubb were worth $20,611,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Mirador Capital Partners LP lifted its position in shares of Chubb by 4.9% during the third quarter. Mirador Capital Partners LP now owns 20,518 shares of the financial services provider’s stock valued at $5,791,000 after buying an additional 961 shares during the last quarter. Moody National Bank Trust Division purchased a new position in shares of Chubb in the 3rd quarter worth approximately $343,000. AssuredPartners Investment Advisors LLC raised its stake in shares of Chubb by 56.2% during the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 2,570 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 925 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in Chubb during the third quarter valued at approximately $34,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Chubb in the third quarter valued at approximately $448,000. 83.81% of the stock is owned by institutional investors.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. This trade represents a 20.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,333 shares of company stock worth $16,629,873. Insiders own 0.77% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $310.44 on Friday. The stock has a 50 day moving average of $290.83 and a two-hundred day moving average of $282.85. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $313.46. The firm has a market cap of $122.17 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 3.55 and a beta of 0.51. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $5.72 earnings per share. On average, analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CB. UBS Group upped their target price on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. BMO Capital Markets restated a “market perform” rating and set a $283.00 price objective on shares of Chubb in a report on Thursday, October 23rd. Jefferies Financial Group increased their price objective on shares of Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a research report on Tuesday. Morgan Stanley set a $310.00 target price on shares of Chubb in a research note on Tuesday. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Chubb in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $311.90.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.