Raymond James Financial Inc. Invests $1.16 Billion in Chubb Limited (NYSE:CB)

Raymond James Financial Inc. acquired a new position in shares of Chubb Limited (NYSE:CB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,194,339 shares of the financial services provider’s stock, valued at approximately $1,158,897,000. Raymond James Financial Inc. owned about 1.04% of Chubb at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CB. Continuum Advisory LLC raised its position in shares of Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Chubb during the third quarter worth about $29,000. Raelipskie Partnership bought a new position in shares of Chubb during the third quarter worth about $29,000. Sierra Ocean LLC acquired a new stake in Chubb during the fourth quarter worth approximately $29,000. Finally, Truvestments Capital LLC acquired a new stake in Chubb during the third quarter worth approximately $30,000. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of Chubb in a research note on Thursday, January 30th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Barclays decreased their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $299.27.

Insider Activity at Chubb

In related news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the sale, the executive vice president now directly owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by insiders.

Chubb Stock Up 1.2 %

Shares of NYSE:CB opened at $287.52 on Thursday. The stock has a market cap of $115.90 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 3.36 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The business’s 50 day moving average is $271.67 and its 200 day moving average is $280.11.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (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%. On average, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.27%. Chubb’s payout ratio is 16.02%.

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.