Assenagon Asset Management S.A. Decreases Stake in Chubb Limited $CB

Assenagon Asset Management S.A. reduced its stake in shares of Chubb Limited (NYSE:CB) by 85.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,796 shares of the financial services provider’s stock after selling 62,229 shares during the period. Assenagon Asset Management S.A.’s holdings in Chubb were worth $3,370,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CB. Berkshire Hathaway Inc raised its stake in Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. AQR Capital Management LLC grew its stake in Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after purchasing an additional 1,199,963 shares during the last quarter. Woodline Partners LP purchased a new stake in Chubb during the 3rd quarter valued at about $220,217,000. Amundi increased its holdings in shares of 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 during the period. Finally, Bank of America Corp DE increased its holdings in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Up 0.0%

Shares of Chubb stock opened at $319.22 on Monday. The firm has a 50-day simple moving average of $323.43 and a two-hundred day simple moving average of $303.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The company has a market cap of $124.57 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.46.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.11 billion. During the same period last year, the firm earned $6.02 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CB. Bank of America decreased their target price on Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a report on Friday, January 16th. Citigroup increased their price target on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Cantor Fitzgerald lifted their price objective on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $340.00 price objective on shares of Chubb in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $342.05.

Insider Buying and Selling at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the transaction, the director owned 25,468 shares in the company, valued at $8,386,612.40. This trade represents a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 44,877 shares of company stock valued at $14,885,226. Company insiders own 0.86% of the company’s stock.

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.