Canoe Financial LP Has $44.63 Million Stake in Chubb Limited (NYSE:CB)

Canoe Financial LP decreased its holdings in shares of Chubb Limited (NYSE:CB) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,769 shares of the financial services provider’s stock after selling 1,858 shares during the quarter. Canoe Financial LP’s holdings in Chubb were worth $44,625,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. California Public Employees Retirement System grew its holdings in Chubb by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock valued at $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC grew its holdings in Chubb by 94.4% during the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC acquired a new position in Chubb during the fourth quarter valued at approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock valued at $760,853,000 after purchasing an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Chubb during the fourth quarter valued at approximately $1,158,897,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh acquired 9,810 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the acquisition, the chief operating officer now directly owns 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group lifted their price target 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. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Barclays cut their price target on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company lifted their price target 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. Finally, Morgan Stanley lifted their price target 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 research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Chubb Stock Performance

NYSE CB opened at $283.61 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $287.89 and its two-hundred day moving average price is $281.59. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The firm has a market capitalization of $113.65 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 3.14 and a beta of 0.54.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. As a group, research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has initiated a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 13th. Chubb’s payout ratio is currently 18.67%.

Chubb Profile

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.