Chubb Limited $CB Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its position in shares of Chubb Limited (NYSE:CB) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 296,110 shares of the financial services provider’s stock after selling 7,124 shares during the period. Franklin Resources Inc.’s holdings in Chubb were worth $92,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Berkshire Hathaway Inc raised its holdings in 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 purchasing an additional 4,299,111 shares during the last quarter. State Street Corp raised its holdings in Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Chubb by 9.2% during the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after purchasing an additional 427,512 shares during the last quarter. Bank of America Corp DE raised its holdings in 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 worth $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. Finally, Norges Bank acquired a new position in Chubb during the fourth quarter worth $1,081,190,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CB shares. Citizens Jmp lifted their price objective on Chubb from $350.00 to $365.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $315.00 price objective on shares of Chubb in a report on Wednesday, April 22nd. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 27th. Jefferies Financial Group cut their price target on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Chubb from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.43.

Chubb Stock Performance

NYSE CB opened at $330.55 on Thursday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The stock has a market cap of $128.21 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The business has a fifty day moving average of $324.87 and a 200-day moving average of $318.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20.

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

Chubb Increases Dividend

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

Insiders Place Their Bets

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by 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.