Adage Capital Partners GP L.L.C. cut its position in Chubb Limited (NYSE:CB - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,283 shares of the financial services provider's stock after selling 83,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.06% of Chubb worth $71,916,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Demars Financial Group LLC boosted its position in Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after purchasing an additional 5,340,499 shares during the period. Norges Bank purchased a new stake in shares of Chubb during the 4th quarter valued at approximately $1,169,720,000. Raymond James Financial Inc. purchased a new position in Chubb in the 4th quarter valued at approximately $1,158,897,000. GQG Partners LLC raised its holdings in Chubb by 36.3% during the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider's stock valued at $1,223,932,000 after acquiring an additional 1,178,628 shares during the period. Finally, Beutel Goodman & Co Ltd. lifted its position in shares of Chubb by 1,007,698.0% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider's stock worth $278,454,000 after acquiring an additional 1,007,698 shares in the last quarter. Institutional investors own 83.81% of the company's stock.
Chubb Price Performance
Shares of Chubb stock opened at $284.76 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a 52-week low of $238.85 and a 52-week high of $306.91. The company has a fifty day moving average of $285.78 and a 200-day moving average of $281.10. The stock has a market capitalization of $114.10 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 3.36 and a beta of 0.47.
Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts expect that Chubb Limited will post 21.52 EPS for the current year.
Chubb Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. Chubb's dividend payout ratio (DPR) is currently 16.02%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on CB shares. Piper Sandler boosted their price objective on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Wells Fargo & Company decreased their price target on Chubb from $271.00 to $268.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Chubb from $329.00 to $316.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group raised their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $307.21.
View Our Latest Stock Report on CB
Insider Buying and Selling at Chubb
In other Chubb news, CAO George F. Ohsiek sold 763 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the sale, the chief executive officer now owns 584,395 shares of the company's stock, valued at approximately $170,321,922.75. This represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by insiders.
About Chubb
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Free Report)
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.
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