Canopy Partners LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Canopy Partners LLC grew its holdings in shares of Chubb Limited (NYSE:CB) by 94.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,818 shares of the financial services provider’s stock after purchasing an additional 2,340 shares during the quarter. Canopy Partners LLC’s holdings in Chubb were worth $1,331,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CB. Twin Capital Management Inc. grew its stake in shares of Chubb by 13.1% during the 4th quarter. Twin Capital Management Inc. now owns 15,200 shares of the financial services provider’s stock worth $4,200,000 after acquiring an additional 1,762 shares during the period. Invesco Ltd. lifted its stake in shares of Chubb by 6.6% during the 4th quarter. Invesco Ltd. now owns 2,599,581 shares of the financial services provider’s stock valued at $718,264,000 after buying an additional 161,766 shares in the last quarter. Sierra Summit Advisors LLC grew its stake in Chubb by 25.0% in the 4th quarter. Sierra Summit Advisors LLC now owns 6,361 shares of the financial services provider’s stock valued at $1,758,000 after buying an additional 1,274 shares in the last quarter. FMR LLC raised its holdings in Chubb by 0.6% during the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock valued at $4,329,173,000 after acquiring an additional 91,892 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Chubb by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 295,231 shares of the financial services provider’s stock worth $81,572,000 after acquiring an additional 1,391 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. JMP Securities reissued a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Barclays reduced their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of Chubb in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $303.14.

Chubb Stock Down 7.2 %

Shares of Chubb stock opened at $280.74 on Monday. The company’s fifty day simple moving average is $282.25 and its two-hundred day simple moving average is $281.69. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $112.41 billion, a P/E ratio of 12.36, a PEG ratio of 3.36 and a beta of 0.47.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares of the company’s stock, valued at $23,120,374.04. This trade represents a 13.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 25,728 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares in the company, valued at $170,321,922.75. This trade represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock valued at $18,562,730 in the last three months. 0.86% of the stock is currently owned by company insiders.

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.