Chubb Limited $CB Shares Purchased by First Manhattan CO. LLC.

First Manhattan CO. LLC. raised its holdings in shares of Chubb Limited (NYSE:CB) by 14.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 201,851 shares of the financial services provider’s stock after acquiring an additional 25,147 shares during the quarter. First Manhattan CO. LLC.’s holdings in Chubb were worth $63,181,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Claro Advisors Inc. lifted its position in shares of Chubb by 10.0% during the fourth quarter. Claro Advisors Inc. now owns 5,068 shares of the financial services provider’s stock worth $1,582,000 after purchasing an additional 459 shares in the last quarter. Berkshire Hathaway Inc lifted its position in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. Boothbay Fund Management LLC lifted its position in shares of Chubb by 59.1% during the fourth quarter. Boothbay Fund Management LLC now owns 1,532 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 569 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Chubb by 0.7% during the fourth quarter. Guggenheim Capital LLC now owns 46,099 shares of the financial services provider’s stock worth $14,388,000 after purchasing an additional 315 shares in the last quarter. Finally, Caisse de depot et placement du Quebec lifted its position in shares of Chubb by 5,648.7% during the fourth quarter. Caisse de depot et placement du Quebec now owns 202,123 shares of the financial services provider’s stock worth $63,087,000 after purchasing an additional 198,607 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Down 0.2%

Shares of NYSE:CB opened at $328.28 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $324.94 and a 200 day simple moving average of $319.74. The firm has a market cap of $127.33 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.68 and a beta of 0.41. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67.

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

Chubb Increases Dividend

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

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CB has been the topic of a number of recent research reports. Weiss Ratings cut shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, June 12th. BMO Capital Markets boosted their target price on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. The Goldman Sachs Group reduced their target price on shares of Chubb from $372.00 to $362.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Wells Fargo & Company boosted their target price on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Bank of America dropped their price target on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and an average target price of $349.10.

Chubb Company Profile

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.