Weiss Asset Management LP Makes New Investment in Chubb Limited (NYSE:CB)

Weiss Asset Management LP purchased a new stake in shares of Chubb Limited (NYSE:CB - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 95,092 shares of the financial services provider's stock, valued at approximately $27,424,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position 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 worth $4,492,103,000 after acquiring an additional 1,052,999 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Chubb by 28,885.3% in 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 purchasing an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings 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 worth $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Troy Asset Management Ltd purchased a new stake in shares of Chubb during the second quarter valued at about $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Chubb by 49.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider's stock valued at $338,070,000 after buying an additional 389,343 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company's stock, valued at $160,341,094.40. The trade was a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CB has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Chubb from $275.00 to $282.00 and gave the company an "underperform" rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Barclays began coverage on Chubb in a research report on Wednesday, September 4th. They set an "overweight" rating and a $349.00 target price on the stock. JMP Securities boosted their price target on Chubb from $300.00 to $325.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chubb has a consensus rating of "Hold" and a consensus price target of $287.37.

Chubb Stock Performance

Chubb stock traded down $3.45 during mid-day trading on Friday, hitting $283.17. The company had a trading volume of 933,876 shares, compared to its average volume of 1,594,628. 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 company has a market capitalization of $114.15 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 6.66 and a beta of 0.67. The company's fifty day moving average is $287.01 and its 200-day moving average is $276.20. Chubb Limited has a 12-month low of $216.90 and a 12-month high of $302.05.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same quarter last year, the business earned $4.95 earnings per share. The firm's revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Chubb Limited will post 21.82 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.29%. Chubb's dividend 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.