Cooke & Bieler LP Trims Position in Chubb Ltd (CB)
Cooke & Bieler LP lessened its position in shares of Chubb Ltd (NYSE:CB) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 645,729 shares of the financial services provider’s stock after selling 8,868 shares during the quarter. Chubb comprises 1.7% of Cooke & Bieler LP’s investment portfolio, making the stock its 23rd biggest holding. Cooke & Bieler LP’s holdings in Chubb were worth $94,360,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Park Avenue Securities LLC increased its position in Chubb by 126.3% during the fourth quarter. Park Avenue Securities LLC now owns 3,130 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 1,747 shares during the last quarter. Parkside Investments LLC increased its position in Chubb by 73.9% during the fourth quarter. Parkside Investments LLC now owns 4,000 shares of the financial services provider’s stock valued at $585,000 after acquiring an additional 1,700 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Chubb by 4.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 16,523 shares of the financial services provider’s stock valued at $2,414,000 after acquiring an additional 694 shares during the last quarter. Roffman Miller Associates Inc. PA increased its position in Chubb by 103.6% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 24,876 shares of the financial services provider’s stock valued at $3,635,000 after acquiring an additional 12,656 shares during the last quarter. Finally, Glenview Trust Co increased its position in Chubb by 522.5% during the fourth quarter. Glenview Trust Co now owns 23,392 shares of the financial services provider’s stock valued at $3,418,000 after acquiring an additional 19,634 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.
CB has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $153.00 price objective on shares of Chubb in a research report on Sunday, October 29th. Citigroup upped their price objective on Chubb from $167.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. UBS Group upped their price target on Chubb from $160.00 to $169.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Chubb from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, JPMorgan Chase & Co. upgraded Chubb from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $163.92.
Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.86. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.72 earnings per share. sell-side analysts expect that Chubb Ltd will post 10.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, December 28th. Chubb’s payout ratio is 34.63%.
Chubb declared that its board has authorized a share repurchase program on Thursday, December 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Timothy Alan Boroughs sold 18,611 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $151.22, for a total value of $2,814,355.42. Following the completion of the transaction, the insider now owns 201,165 shares of the company’s stock, valued at $30,420,171.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 95,761 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the completion of the transaction, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Cooke & Bieler LP Trims Position in Chubb Ltd (CB)” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://theolympiareport.com/2018/02/11/cooke-bieler-lp-trims-position-in-chubb-ltd-cb.html.
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Ltd (NYSE:CB).
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.