Cresset Asset Management LLC Raises Stock Position in Chubb Limited (NYSE:CB)

Cresset Asset Management LLC raised its stake in shares of Chubb Limited (NYSE:CBFree Report) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,723 shares of the financial services provider’s stock after purchasing an additional 8,083 shares during the quarter. Cresset Asset Management LLC’s holdings in Chubb were worth $15,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CB. Norges Bank purchased a new position in Chubb during the 4th quarter valued at $957,756,000. Bank of Nova Scotia boosted its holdings in shares of Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after buying an additional 518,535 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after buying an additional 495,860 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Chubb by 19,454.2% during the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after buying an additional 482,854 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Chubb during the 4th quarter valued at $97,207,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 0.2 %

Chubb stock opened at $267.85 on Tuesday. The firm has a 50 day moving average of $255.51 and a 200 day moving average of $245.21. The firm has a market capitalization of $108.76 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 4.36 and a beta of 0.66. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $275.41. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CBGet Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.41 EPS. As a group, research analysts predict that Chubb Limited will post 21.23 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio (DPR) is 15.27%.

Insider Buying and Selling at Chubb

In other news, Director Michael G. Atieh sold 716 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the completion of the transaction, the director now directly owns 39,295 shares in the company, valued at approximately $10,597,861.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Juan Luis Ortega sold 2,400 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $11,648,059.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the sale, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The disclosure for this sale can be found here. Insiders sold a total of 115,065 shares of company stock valued at $29,518,703 in the last three months. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. Citigroup restated a “neutral” rating and set a $275.00 target price (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. Roth Mkm reiterated a “buy” rating and issued a $280.00 price target on shares of Chubb in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods dropped their price target on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Bank of America upgraded shares of Chubb from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.70.

View Our Latest Research Report on Chubb

Chubb Company Profile

(Free Report)

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

Recommended Stories

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CBFree Report).

Institutional Ownership by Quarter for Chubb (NYSE:CB)

Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.