Atom Investors LP Makes New $575,000 Investment in Chubb Limited (NYSE:CB)

Atom Investors LP acquired a new stake in Chubb Limited (NYSE:CB) during the third quarter, HoldingsChannel reports. The firm acquired 1,995 shares of the financial services provider’s stock, valued at approximately $575,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Chubb by 7.3% in the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after purchasing an additional 1,052,999 shares during the last quarter. International Assets Investment Management LLC increased its position in Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after buying an additional 931,841 shares during the period. Assenagon Asset Management S.A. lifted its stake in Chubb by 4,559.3% in the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after buying an additional 826,700 shares during the last quarter. Troy Asset Management Ltd acquired a new stake in shares of Chubb in the second quarter valued at approximately $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Chubb by 49.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after acquiring an additional 389,343 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 6,599 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the completion of the transaction, the executive vice president now directly owns 84,101 shares of the company’s stock, valued at $24,142,033.06. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,454 shares of company stock valued at $19,446,155 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CB. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their price objective on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Stock Performance

CB opened at $286.26 on Wednesday. Chubb Limited has a 1-year low of $216.90 and a 1-year high of $302.05. The stock has a market cap of $115.39 billion, a P/E ratio of 11.72, a P/E/G ratio of 6.75 and a beta of 0.67. The stock’s 50 day simple moving average is $287.18 and its 200 day simple moving average is $276.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.95 earnings per share. As a group, equities analysts anticipate that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Friday, December 13th. Chubb’s payout ratio is currently 14.91%.

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.