GoodHaven Capital Management LLC Acquires 4,800 Shares of Chubb Limited $CB

GoodHaven Capital Management LLC lifted its stake in shares of Chubb Limited (NYSE:CB) by 11.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,180 shares of the financial services provider’s stock after acquiring an additional 4,800 shares during the period. Chubb accounts for about 4.4% of GoodHaven Capital Management LLC’s portfolio, making the stock its 11th largest position. GoodHaven Capital Management LLC’s holdings in Chubb were worth $13,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock worth $10,643,993,000 after purchasing an additional 210,053 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Chubb by 0.3% in the second quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock valued at $2,541,771,000 after buying an additional 30,721 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the last quarter. Norges Bank bought a new stake in shares of Chubb during the second quarter worth about $1,195,137,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Chubb by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock worth $652,915,000 after acquiring an additional 18,820 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity

In other news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 54,307 shares of company stock valued at $17,611,016. 0.86% of the stock is owned by company insiders.

Chubb Price Performance

CB stock opened at $324.57 on Tuesday. The firm has a 50 day moving average of $311.26 and a 200-day moving average of $291.80. The firm has a market capitalization of $127.73 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.49. Chubb Limited has a 12 month low of $263.14 and a 12 month high of $335.60. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same quarter in the prior year, the firm posted $6.02 EPS. Chubb’s revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 15.08%.

Analyst Ratings Changes

A number of research firms have issued reports on CB. Citizens Jmp reissued a “market outperform” rating and set a $350.00 price objective on shares of Chubb in a report on Wednesday, February 4th. Mizuho raised their price objective on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Citigroup upped their target price on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Finally, UBS Group restated a “neutral” rating and issued a $340.00 price objective on shares of Chubb in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $340.09.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.