Chubb Ltd (CB) Shares Bought by Brown Advisory Inc.
Brown Advisory Inc. boosted its holdings in Chubb Ltd (NYSE:CB) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,599 shares of the financial services provider’s stock after purchasing an additional 637 shares during the quarter. Brown Advisory Inc.’s holdings in Chubb were worth $10,413,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Gradient Investments LLC grew its stake in Chubb by 260.0% in the fourth quarter. Gradient Investments LLC now owns 216 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 156 shares during the period. Portfolio Solutions LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $32,000. Moody National Bank Trust Division acquired a new stake in Chubb in the fourth quarter valued at approximately $37,000. Atwood & Palmer Inc. grew its stake in Chubb by 38.3% in the fourth quarter. Atwood & Palmer Inc. now owns 289 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 80 shares during the period. Finally, Ruggie Capital Group acquired a new stake in Chubb in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 87.59% of the company’s stock.
Shares of NYSE:CB opened at $135.40 on Friday. The company has a market cap of $61.94 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.35 and a current ratio of 0.32. Chubb Ltd has a 12-month low of $119.54 and a 12-month high of $142.54.
Chubb declared that its board has authorized a stock buyback program on Thursday, November 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a $0.73 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.92 annualized dividend and a yield of 2.16%. Chubb’s dividend payout ratio is currently 30.93%.
In other Chubb news, insider Paul Bennett Medini sold 2,437 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $133.94, for a total value of $326,411.78. Following the transaction, the insider now owns 95,101 shares of the company’s stock, valued at $12,737,827.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.44% of the stock is currently owned by insiders.
CB has been the topic of several analyst reports. Wells Fargo & Co set a $160.00 target price on Chubb and gave the company a “buy” rating in a research report on Friday, January 18th. Compass Point initiated coverage on Chubb in a research report on Tuesday, January 15th. They set a “buy” rating and a $165.00 target price on the stock. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Raymond James cut their target price on Chubb from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, February 11th. Finally, Deutsche Bank cut their target price on Chubb from $123.00 to $121.00 and set a “sell” rating on the stock in a research report on Monday, January 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $152.70.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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