Bluestein R H & Co. Sells 11,620 Shares of Chubb Ltd (CB)
Bluestein R H & Co. decreased its holdings in Chubb Ltd (NYSE:CB) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 244,585 shares of the financial services provider’s stock after selling 11,620 shares during the period. Chubb makes up approximately 1.9% of Bluestein R H & Co.’s investment portfolio, making the stock its 27th largest position. Bluestein R H & Co.’s holdings in Chubb were worth $35,741,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CB. Raymond James Financial Services Advisors Inc. raised its holdings in Chubb by 5.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 330,311 shares of the financial services provider’s stock valued at $47,090,000 after acquiring an additional 17,943 shares during the last quarter. Parametrica Management Ltd acquired a new stake in Chubb in the 3rd quarter valued at about $244,000. WASHINGTON TRUST Co raised its holdings in Chubb by 2.2% in the 3rd quarter. WASHINGTON TRUST Co now owns 60,948 shares of the financial services provider’s stock valued at $8,688,000 after acquiring an additional 1,320 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in Chubb by 23.7% in the 3rd quarter. ST Germain D J Co. Inc. now owns 8,096 shares of the financial services provider’s stock valued at $1,154,000 after acquiring an additional 1,549 shares during the last quarter. Finally, Country Trust Bank raised its holdings in Chubb by 5.0% in the 3rd quarter. Country Trust Bank now owns 202,303 shares of the financial services provider’s stock valued at $28,838,000 after acquiring an additional 9,721 shares during the last quarter. Institutional investors own 86.10% of the company’s stock.
In related news, CEO Evan G. Greenberg sold 95,761 shares of Chubb 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 completion of the sale, the chief executive officer now owns 1,367,229 shares in the company, valued at approximately $199,013,853.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Juan C. Andrade sold 9,373 shares of Chubb stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the completion of the sale, the insider now owns 110,195 shares of the company’s stock, valued at approximately $16,095,081.70. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.86. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.64 billion. Chubb had a net margin of 11.87% and a return on equity of 7.52%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.72 EPS. research analysts forecast that Chubb Ltd will post 10.76 earnings per share for the current fiscal year.
Chubb announced that its board has authorized a stock buyback plan on Thursday, December 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.03%. Chubb’s dividend payout ratio is currently 34.63%.
A number of analysts have commented on CB shares. Barclays increased their price objective on shares of Chubb from $169.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Zacks Investment Research downgraded shares of Chubb from a “buy” rating to a “sell” rating in a report on Friday, January 5th. Wells Fargo & Co set a $169.00 price objective on shares of Chubb and gave the company a “buy” rating in a report on Wednesday, November 29th. Goldman Sachs Group began coverage on shares of Chubb in a report on Monday, December 4th. They issued a “buy” rating and a $167.00 price objective for the company. Finally, Royal Bank of Canada restated a “buy” rating and set a $170.00 price target on shares of Chubb in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $165.25.
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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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