Woodline Partners LP Invests $3.08 Million in Chubb Limited (NYSE:CB)

Woodline Partners LP bought a new position in shares of Chubb Limited (NYSE:CB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,150 shares of the financial services provider’s stock, valued at approximately $3,081,000.

Several other hedge funds also recently made changes to their positions in the business. Rede Wealth LLC increased its holdings in shares of Chubb by 2.0% during the fourth quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 37 shares during the period. United Asset Strategies Inc. increased its holdings in shares of Chubb by 1.3% during the fourth quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 40 shares during the period. Avitas Wealth Management LLC increased its holdings in shares of Chubb by 0.5% during the fourth quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 40 shares during the period. Tandem Wealth Advisors LLC increased its holdings in shares of Chubb by 3.0% during the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 40 shares during the period. Finally, Unison Advisors LLC increased its stake in Chubb by 0.3% in the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after acquiring an additional 41 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CB shares. UBS Group lifted their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Chubb Stock Performance

Shares of Chubb stock opened at $286.31 on Friday. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The firm has a market capitalization of $114.73 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.36 and a beta of 0.57. The company’s 50 day moving average price is $288.21 and its two-hundred day moving average price is $281.06.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is 18.67%.

Chubb declared that its board has initiated a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer now owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,553 shares of company stock worth $43,257,220. Company insiders own 0.77% of the company’s stock.

About Chubb

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.