Ballentine Partners LLC Grows Holdings in Chubb Limited (NYSE:CB)

Ballentine Partners LLC lifted its holdings in Chubb Limited (NYSE:CB) by 5.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,608 shares of the financial services provider’s stock after acquiring an additional 474 shares during the quarter. Ballentine Partners LLC’s holdings in Chubb were worth $2,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in Chubb by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock valued at $3,855,996,000 after buying an additional 138,142 shares during the last quarter. Capital World Investors raised its holdings in Chubb by 0.4% in the 4th quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after purchasing an additional 43,845 shares in the last quarter. Norges Bank bought a new position in Chubb in the 4th quarter worth $957,756,000. Raymond James & Associates raised its holdings in Chubb by 2.6% in the 4th quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock worth $701,301,000 after purchasing an additional 77,453 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in Chubb by 0.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock worth $609,880,000 after purchasing an additional 24,323 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Chubb

In other news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the transaction, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael G. Atieh sold 716 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the transaction, the director now owns 39,295 shares in the company, valued at approximately $10,597,861.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Annmarie T. Hagan sold 1,529 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the sale, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock worth $12,149,985 in the last quarter. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. HSBC restated a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 target price on shares of Chubb in a research report on Wednesday, April 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 target price on shares of Chubb in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 target price on shares of Chubb in a research report on Monday, April 1st. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.70.

Chubb Stock Performance

CB traded up $1.35 during midday trading on Monday, hitting $265.95. 88,067 shares of the company traded hands, compared to its average volume of 1,686,521. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $107.99 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 6.38 and a beta of 0.66. The company’s 50-day moving average is $257.74 and its 200 day moving average is $247.50. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $275.41.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.41 EPS. On average, research analysts expect that Chubb Limited will post 21.19 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 14th. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is 16.16%.

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.