Pitcairn Co. Has $1.29 Million Holdings in Chubb Limited (NYSE:CB)

Pitcairn Co. increased its position in Chubb Limited (NYSE:CB) by 133.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,979 shares of the financial services provider’s stock after acquiring an additional 2,844 shares during the quarter. Pitcairn Co.’s holdings in Chubb were worth $1,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Chubb in the fourth quarter worth $957,756,000. Confluence Investment Management LLC bought a new stake in Chubb in the 1st quarter valued at $165,932,000. Bank of Nova Scotia grew its position in Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Chubb by 19,454.2% during the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock worth $1,096,860,000 after purchasing an additional 482,854 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Chubb during the fourth quarter valued at about $97,207,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB traded up $1.57 on Thursday, hitting $261.61. The company’s stock had a trading volume of 1,407,305 shares, compared to its average volume of 1,651,123. The company has a market capitalization of $106.23 billion, a PE ratio of 11.69, a PEG ratio of 6.16 and a beta of 0.66. Chubb Limited has a fifty-two week low of $198.10 and a fifty-two week high of $275.41. The company has a 50 day moving average price of $262.18 and a 200 day moving average price of $253.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.94% and a net margin of 18.14%. The company had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the previous year, the firm earned $4.92 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. On average, research analysts anticipate that Chubb Limited will post 20.95 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a dividend of $0.91 per share. The ex-dividend date was Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is currently 16.16%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Roth Mkm lifted their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI lifted their price objective on Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Bank of America upped their target price on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com downgraded shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $270.05.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the sale, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares in the company, valued at $12,199,649.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,552 shares of company stock valued at $12,149,985. Insiders own 0.86% of the company’s stock.

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.