ArrowMark Colorado Holdings LLC Has $7.72 Million Position in Chubb Limited $CB

ArrowMark Colorado Holdings LLC lessened its stake in Chubb Limited (NYSE:CB) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,350 shares of the financial services provider’s stock after selling 3,235 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Chubb were worth $7,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CB. Norges Bank acquired a new stake in shares of Chubb during the 2nd quarter worth approximately $1,195,137,000. AQR Capital Management LLC lifted its position in Chubb by 75.1% in 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 period. Amundi lifted its position in Chubb by 55.4% in the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after purchasing an additional 693,740 shares during the period. Bank of America Corp DE boosted its stake in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after buying an additional 513,852 shares in the last quarter. Finally, London Co. of Virginia boosted its stake in Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after buying an additional 500,116 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

CB opened at $329.24 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $128.45 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46. The company’s 50 day simple moving average is $319.55 and its 200-day simple moving average is $299.76. Chubb Limited has a one year low of $264.10 and a one year high of $345.67.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the previous year, the company posted $6.02 EPS. Chubb’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is presently 15.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CB. Mizuho increased their price objective on shares of Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Morgan Stanley set a $350.00 target price on shares of Chubb in a research report on Friday, January 16th. Piper Sandler upped their target price on shares of Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. UBS Group restated a “neutral” rating and set a $340.00 price target on shares of Chubb in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Chubb from $327.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $340.81.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was 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 of the company’s stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.86% of the company’s stock.

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.