CIBC Bancorp USA Inc. Buys New Stake in Chubb Limited $CB

CIBC Bancorp USA Inc. purchased a new stake in Chubb Limited (NYSE:CB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,561 shares of the financial services provider’s stock, valued at approximately $15,400,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc increased its holdings in shares of Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. Norges Bank acquired a new stake in shares of Chubb during the 2nd quarter worth about $1,195,137,000. AQR Capital Management LLC lifted its stake in Chubb by 75.1% during the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after purchasing an additional 1,199,963 shares during the last quarter. Woodline Partners LP acquired a new position in Chubb in the third quarter valued at approximately $220,217,000. Finally, Amundi boosted its holdings in Chubb by 55.4% in the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock valued at $557,493,000 after purchasing an additional 693,740 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by company insiders.

Chubb Stock Performance

NYSE CB opened at $323.50 on Friday. The firm has a market cap of $126.22 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.06 and a beta of 0.46. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The business’s 50-day moving average price is $320.92 and its 200 day moving average price is $300.91. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same period in the prior year, the business earned $6.02 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, equities 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 Monday, April 6th. Stockholders of record on Friday, March 13th will be paid 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 is Friday, March 13th. Chubb’s dividend payout ratio is 15.08%.

Analysts Set New Price Targets

Several equities analysts have commented on CB shares. Wells Fargo & Company increased their price target on shares of Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a research report on Monday, November 24th. Evercore lifted their price target on shares of Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Chubb from $327.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $340.81.

About Chubb

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.