Global Financial Private Capital LLC raised its holdings in shares of Chubb Ltd (NYSE:CB) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,972 shares of the financial services provider’s stock after purchasing an additional 4,013 shares during the period. Global Financial Private Capital LLC’s holdings in Chubb were worth $3,066,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. California Public Employees Retirement System increased its position in shares of Chubb by 7.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,131,724 shares of the financial services provider’s stock valued at $161,327,000 after acquiring an additional 81,255 shares during the period. First Manhattan Co. increased its position in shares of Chubb by 0.3% in the 4th quarter. First Manhattan Co. now owns 464,260 shares of the financial services provider’s stock valued at $67,842,000 after acquiring an additional 1,324 shares during the period. Alpha Cubed Investments LLC increased its position in shares of Chubb by 5.0% in the 3rd quarter. Alpha Cubed Investments LLC now owns 95,674 shares of the financial services provider’s stock valued at $13,638,000 after acquiring an additional 4,515 shares during the period. Unison Advisors LLC acquired a new position in shares of Chubb in the 4th quarter valued at $1,158,000. Finally, Epoch Investment Partners Inc. increased its position in shares of Chubb by 0.6% in the 3rd quarter. Epoch Investment Partners Inc. now owns 2,089,344 shares of the financial services provider’s stock valued at $297,836,000 after acquiring an additional 11,569 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chubb Ltd (NYSE CB) opened at $147.07 on Friday. The firm has a market capitalization of $68,375.26, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.29. Chubb Ltd has a 12-month low of $133.82 and a 12-month high of $157.50.
Chubb announced that its board has initiated a stock repurchase program on Thursday, December 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Timothy Alan Boroughs sold 18,611 shares of the stock in a transaction dated Friday, December 1st. The shares were 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 of the company’s stock, valued at approximately $30,420,171.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 95,761 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the sale, the chief executive officer now directly owns 1,367,229 shares in the company, valued at $199,013,853.24. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
Several research firms recently issued reports on CB. Bank of America upped their target price on Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a “buy” rating and issued a $170.00 target price on shares of Chubb in a research report on Wednesday, January 31st. Wells Fargo & Co reaffirmed a “buy” rating and set a $169.00 price target on shares of Chubb in a research report on Tuesday, January 30th. Citigroup increased 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. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $153.00 price target on shares of Chubb in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $163.92.
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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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