Jennison Associates LLC Sells 169,236 Shares of Chubb Limited (NYSE:CB)

Jennison Associates LLC reduced its stake in Chubb Limited (NYSE:CB) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 895,344 shares of the financial services provider’s stock after selling 169,236 shares during the quarter. Jennison Associates LLC owned about 0.22% of Chubb worth $247,384,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Strategies Group Inc. boosted its stake in shares of Chubb by 4.7% in the 4th quarter. Financial Strategies Group Inc. now owns 24,282 shares of the financial services provider’s stock valued at $6,258,000 after purchasing an additional 1,099 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in Chubb by 3.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,676 shares of the financial services provider’s stock worth $465,000 after buying an additional 50 shares during the last quarter. Catalina Capital Group LLC lifted its holdings in Chubb by 3.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,524 shares of the financial services provider’s stock valued at $697,000 after buying an additional 74 shares during the period. Princeton Global Asset Management LLC boosted its position in Chubb by 31.2% during the fourth quarter. Princeton Global Asset Management LLC now owns 25,581 shares of the financial services provider’s stock valued at $7,068,000 after acquiring an additional 6,076 shares during the last quarter. Finally, Chicago Capital LLC grew its holdings in Chubb by 20.7% during the 4th quarter. Chicago Capital LLC now owns 6,877 shares of the financial services provider’s stock worth $1,900,000 after acquiring an additional 1,180 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of CB opened at $272.01 on Monday. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05. 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 stock has a 50 day moving average price of $275.16 and a two-hundred day moving average price of $279.45. The firm has a market capitalization of $109.65 billion, a P/E ratio of 11.97, a P/E/G ratio of 3.35 and a beta of 0.67.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Chubb Limited will post 21.91 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.34%. Chubb’s payout ratio is presently 16.02%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CB. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Jefferies Financial Group boosted their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $290.12.

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.