First Manhattan CO. LLC. Raises Stake in Chubb Limited $CB

First Manhattan CO. LLC. lifted its position in shares of Chubb Limited (NYSE:CB) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,851 shares of the financial services provider’s stock after buying an additional 25,147 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.05% of Chubb worth $63,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Berkshire Hathaway Inc grew its holdings in shares of Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. Norges Bank purchased a new stake in shares of Chubb during the fourth quarter worth about $1,081,190,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Chubb during the fourth quarter worth about $795,378,000. Finally, GQG Partners LLC grew its holdings in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after buying an additional 1,647,729 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $373.00 to $374.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, June 12th. Piper Sandler raised their target price on shares of Chubb from $328.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Finally, HSBC raised their target price on shares of Chubb from $362.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $349.10.

Chubb Price Performance

CB opened at $328.28 on Thursday. The company’s 50 day simple moving average is $324.94 and its 200 day simple moving average is $319.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The stock has a market capitalization of $127.33 billion, a PE ratio of 11.59, a P/E/G ratio of 1.68 and a beta of 0.41.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, sell-side analysts expect that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, June 12th. Chubb’s dividend payout ratio is presently 14.41%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company insiders.

About Chubb

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.