Chubb Limited $CB Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its position in Chubb Limited (NYSE:CB) by 3.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 991,521 shares of the financial services provider’s stock after buying an additional 34,999 shares during the period. Alliancebernstein L.P.’s holdings in Chubb were worth $299,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Peoples Bank KS purchased a new stake in shares of Chubb in the first quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb in the first quarter valued at about $25,000. North Capital Inc. purchased a new stake in Chubb in the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. acquired a new position in Chubb during the 1st quarter worth approximately $31,000. Finally, 1248 Management LLC purchased a new position in shares of Chubb during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $278.06 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $110.86 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The firm has a 50-day moving average price of $275.21 and a two-hundred day moving average price of $282.87. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business earned $5.38 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Chubb announced that its Board of Directors has approved a share repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CB shares. Evercore ISI set a $312.00 price target on Chubb in a research note on Wednesday, July 23rd. Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $321.00 to $298.00 in a report on Monday, July 7th. Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a research note on Wednesday, August 13th. Morgan Stanley cut their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and an average target price of $302.00.

Insider Transactions at Chubb

In related news, COO John W. Keogh acquired 9,810 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were acquired at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.