Renaissance Technologies LLC Acquires Shares of 71,999 Chubb Limited (NYSE:CB)

Renaissance Technologies LLC acquired a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 71,999 shares of the financial services provider's stock, valued at approximately $19,893,000.

Several other large investors have also bought and sold shares of CB. Bank of Nova Scotia raised its holdings in shares of Chubb by 675.2% during the fourth quarter. Bank of Nova Scotia now owns 378,641 shares of the financial services provider's stock valued at $104,619,000 after purchasing an additional 329,797 shares during the last quarter. FIL Ltd grew its holdings in shares of Chubb by 131.0% in the fourth quarter. FIL Ltd now owns 11,160 shares of the financial services provider's stock worth $3,084,000 after acquiring an additional 6,329 shares during the period. Southeast Asset Advisors LLC lifted its holdings in Chubb by 16.8% in the fourth quarter. Southeast Asset Advisors LLC now owns 918 shares of the financial services provider's stock valued at $254,000 after acquiring an additional 132 shares during the period. Canopy Partners LLC grew its stake in shares of Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after purchasing an additional 2,340 shares during the period. Finally, Twin Capital Management Inc. lifted its stake in shares of Chubb by 13.1% in the 4th quarter. Twin Capital Management Inc. now owns 15,200 shares of the financial services provider's stock worth $4,200,000 after purchasing an additional 1,762 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CB shares. Wells Fargo & Company dropped their price target on shares of Chubb from $271.00 to $268.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods decreased their target price on shares of Chubb from $329.00 to $316.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group upped their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. JMP Securities reissued a "market outperform" rating and set a $325.00 price target on shares of Chubb in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their target price on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $307.21.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the sale, the executive vice president now directly owns 78,422 shares in the company, valued at approximately $23,120,374.04. The trade was a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 in the last three months. Corporate insiders own 0.86% of the company's stock.

Chubb Stock Up 0.1 %

Shares of Chubb stock traded up $0.22 on Friday, reaching $285.29. The stock had a trading volume of 2,477,527 shares, compared to its average volume of 1,636,252. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $306.91. The company has a 50 day moving average price of $284.27 and a 200 day moving average price of $281.25. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $114.31 billion, a P/E ratio of 12.56, a P/E/G ratio of 3.36 and a beta of 0.47.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS 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 forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, March 14th. Chubb's payout ratio is currently 16.02%.

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.