Chubb Limited $CB Shares Bought by Allstate Corp

Allstate Corp lifted its position in shares of Chubb Limited (NYSE:CB) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,735 shares of the financial services provider’s stock after acquiring an additional 118 shares during the quarter. Allstate Corp’s holdings in Chubb were worth $3,544,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sprott Inc. acquired a new stake in Chubb in the first quarter valued at about $224,000. Kestra Advisory Services LLC raised its stake in shares of Chubb by 1.0% during the 1st quarter. Kestra Advisory Services LLC now owns 38,683 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 374 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after buying an additional 304,751 shares during the period. Norinchukin Bank The lifted its holdings in shares of Chubb by 15.1% in the 1st quarter. Norinchukin Bank The now owns 19,881 shares of the financial services provider’s stock valued at $6,004,000 after buying an additional 2,610 shares during the period. Finally, CW Advisors LLC boosted its stake in shares of Chubb by 212.7% in the first quarter. CW Advisors LLC now owns 5,867 shares of the financial services provider’s stock valued at $1,757,000 after buying an additional 3,991 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CB. UBS Group cut their price objective on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a research note on Wednesday, August 13th. Citigroup started coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target for the company. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and reduced their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $302.00.

Chubb Trading Down 0.5%

Shares of CB opened at $277.3750 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The stock has a market cap of $110.59 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.15 and a beta of 0.53. The firm has a 50 day simple moving average of $276.76 and a 200-day simple moving average of $282.53.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.38 EPS. Equities analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Chubb announced that its Board of Directors has initiated a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the transaction, the chief operating officer directly owned 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by company insiders.

Chubb Company 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.