Investment Management Corp of Ontario grew its position in shares of Chubb Limited (NYSE:CB - Free Report) by 43.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,829 shares of the financial services provider's stock after purchasing an additional 3,900 shares during the quarter. Investment Management Corp of Ontario's holdings in Chubb were worth $3,700,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. FMR LLC boosted its holdings in Chubb by 7.3% during 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 acquiring an additional 1,052,999 shares during the period. International Assets Investment Management LLC raised its holdings in Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider's stock valued at $2,696,640,000 after buying an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider's stock worth $243,641,000 after acquiring an additional 826,700 shares during the last quarter. Troy Asset Management Ltd purchased a new position in shares of Chubb in the second quarter valued at about $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Chubb by 49.7% in the third 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 acquiring an additional 389,343 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.
Chubb Stock Performance
NYSE:CB traded down $1.46 during mid-day trading on Wednesday, hitting $284.79. 429,533 shares of the company traded hands, compared to its average volume of 1,593,080. The stock's fifty day moving average price is $287.18 and its 200-day moving average price is $276.07. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The firm has a market cap of $114.80 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 6.75 and a beta of 0.67.
Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the prior year, the firm posted $4.95 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts anticipate that Chubb Limited will post 21.82 earnings per share for the current fiscal year.
Chubb Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, December 13th. Chubb's dividend payout ratio is currently 14.91%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Chubb from $291.00 to $294.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Chubb from $266.00 to $268.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Morgan Stanley upped their target price on Chubb from $295.00 to $300.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $349.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on Chubb from $305.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Chubb has an average rating of "Hold" and an average price target of $287.37.
Read Our Latest Stock Analysis on Chubb
Insiders Place Their Bets
In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The trade was a 4.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 6,599 shares of the 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 transaction, the executive vice president now directly owns 84,101 shares of the company's stock, valued at $24,142,033.06. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,454 shares of company stock worth $19,446,155. Corporate insiders own 0.86% of the company's stock.
Chubb Company Profile
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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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