Alliancebernstein L.P. Increases Position in Chubb Limited (NYSE:CB)

Alliancebernstein L.P. increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 130.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 956,522 shares of the financial services provider's stock after acquiring an additional 540,554 shares during the quarter. Alliancebernstein L.P. owned approximately 0.24% of Chubb worth $264,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in CB. CreativeOne Wealth LLC purchased a new position in Chubb during the 3rd quarter valued at $266,000. Atom Investors LP bought a new stake in Chubb during the third quarter worth about $575,000. Benjamin Edwards Inc. grew its holdings in Chubb by 1,909.6% in the third quarter. Benjamin Edwards Inc. now owns 47,305 shares of the financial services provider's stock worth $13,643,000 after purchasing an additional 44,951 shares during the period. Hilltop Holdings Inc. lifted its holdings in shares of Chubb by 18.6% during the third quarter. Hilltop Holdings Inc. now owns 3,870 shares of the financial services provider's stock valued at $1,116,000 after purchasing an additional 606 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its stake in shares of Chubb by 43.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 12,829 shares of the financial services provider's stock worth $3,700,000 after buying an additional 3,900 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $328.00 to $329.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and set a $320.00 target price on shares of Chubb in a research report on Thursday, January 30th. JMP Securities reissued a "market outperform" rating and issued a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Finally, HSBC upgraded shares of Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target for the company in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $303.14.

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Chubb Price Performance

Shares of NYSE:CB traded up $0.62 on Wednesday, reaching $302.02. The company's stock had a trading volume of 1,534,179 shares, compared to its average volume of 1,604,803. The company has a 50-day simple moving average of $281.24 and a 200 day simple moving average of $281.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The company has a market cap of $120.93 billion, a P/E ratio of 13.29, a PEG ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52-week low of $238.85 and a 52-week high of $304.34.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.21%. Chubb's dividend payout ratio is currently 16.02%.

Insiders Place Their Bets

In other Chubb news, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction on 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 directly owns 20,044 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock worth $18,562,730 in the last ninety days. 0.86% of the stock is 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.