Pointe Capital Management LLC Cuts Stake in Chubb Ltd (CB)
Pointe Capital Management LLC cut its position in Chubb Ltd (NYSE:CB) by 17.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,868 shares of the financial services provider’s stock after selling 812 shares during the period. Pointe Capital Management LLC’s holdings in Chubb were worth $565,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of CB. WCM Investment Management CA grew its holdings in Chubb by 105.1% during the third quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock worth $1,587,644,000 after acquiring an additional 5,707,734 shares during the period. Sound Shore Management Inc. CT acquired a new stake in Chubb during the third quarter worth about $138,481,000. Vanguard Group Inc. grew its holdings in Chubb by 2.4% during the second quarter. Vanguard Group Inc. now owns 35,320,686 shares of the financial services provider’s stock worth $5,134,923,000 after acquiring an additional 838,652 shares during the period. Janus Henderson Group PLC grew its holdings in Chubb by 1,149.7% during the second quarter. Janus Henderson Group PLC now owns 774,960 shares of the financial services provider’s stock worth $112,664,000 after acquiring an additional 712,950 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Chubb by 23.0% during the second quarter. Renaissance Technologies LLC now owns 2,404,461 shares of the financial services provider’s stock worth $349,561,000 after acquiring an additional 449,500 shares during the period. 88.17% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on CB. Citigroup raised their target price on Chubb from $167.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $153.00 price target on shares of Chubb in a research report on Sunday, October 29th. Wells Fargo & Co set a $169.00 price target on Chubb and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Goldman Sachs Group began coverage on Chubb in a research report on Monday, December 4th. They set a “buy” rating and a $167.00 price target on the stock. Finally, UBS Group increased their price target on Chubb from $160.00 to $169.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $161.33.
In other news, insider John J. Lupica sold 16,674 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $152.02, for a total value of $2,534,781.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Bennett Medini sold 5,180 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $150.48, for a total value of $779,486.40. Following the completion of the transaction, the insider now owns 91,775 shares in the company, valued at approximately $13,810,302. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,956 shares of company stock worth $24,417,316. Company insiders own 0.43% of the company’s stock.
Chubb Ltd (CB) opened at $145.64 on Friday. The stock has a market capitalization of $67,610.00, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb Ltd has a 1 year low of $127.15 and a 1 year high of $156.00.
Chubb (NYSE:CB) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.11. The company had revenue of $7.36 billion for the quarter, compared to the consensus estimate of $7.14 billion. Chubb had a return on equity of 7.22% and a net margin of 12.15%. Chubb’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.88 earnings per share. equities analysts forecast that Chubb Ltd will post 7.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a $0.71 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.84 annualized dividend and a dividend yield of 1.95%. Chubb’s dividend payout ratio (DPR) is presently 34.05%.
Chubb declared that its board has authorized a stock repurchase plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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