LS Investment Advisors LLC trimmed its stake in Chubb Ltd (NYSE:CB) by 5.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,378 shares of the financial services provider’s stock after selling 1,516 shares during the period. LS Investment Advisors LLC’s holdings in Chubb were worth $3,708,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Bank of Nova Scotia increased its position in Chubb by 6.0% in the 2nd quarter. Bank of Nova Scotia now owns 11,408 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 650 shares during the period. Scotia Capital Inc. increased its position in Chubb by 6.2% in the 2nd quarter. Scotia Capital Inc. now owns 5,415 shares of the financial services provider’s stock worth $787,000 after buying an additional 318 shares during the period. Verition Fund Management LLC bought a new position in Chubb in the 2nd quarter worth approximately $277,000. Keel Point LLC increased its position in Chubb by 2.1% in the 2nd quarter. Keel Point LLC now owns 2,592 shares of the financial services provider’s stock worth $377,000 after buying an additional 53 shares during the period. Finally, WINTON GROUP Ltd increased its position in Chubb by 23.8% in the 2nd quarter. WINTON GROUP Ltd now owns 67,007 shares of the financial services provider’s stock worth $9,741,000 after buying an additional 12,874 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chubb Ltd (NYSE CB) opened at $144.52 on Friday. The stock has a market capitalization of $67,089.36, a P/E ratio of 18.02, a PEG ratio of 1.34 and a beta of 0.95. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb Ltd has a 1 year low of $131.74 and a 1 year high of $157.50.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, December 28th. Chubb’s dividend payout ratio is presently 34.63%.
Chubb announced that its Board of Directors has approved a stock buyback plan on Thursday, December 21st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on the company. Bank of America lifted their price target on Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Co reaffirmed a “buy” rating and issued a $169.00 price target on shares of Chubb in a research report on Tuesday, January 30th. Zacks Investment Research raised Chubb from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. raised Chubb from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 8th. Finally, Citigroup lifted their price target on Chubb from $167.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $163.92.
In other news, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the sale, the insider now directly owns 201,165 shares in the company, valued at $30,420,171.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total value of $13,938,971.16. Following the sale, the chief executive officer now owns 1,367,229 shares in the company, valued at $199,013,853.24. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
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Chubb Company Profile
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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