GoodHaven Capital Management LLC Purchases 4,800 Shares of Chubb Limited $CB

GoodHaven Capital Management LLC raised its position in shares of Chubb Limited (NYSE:CB) by 11.1% during the third quarter, HoldingsChannel reports. The firm owned 48,180 shares of the financial services provider’s stock after purchasing an additional 4,800 shares during the period. Chubb makes up approximately 4.4% of GoodHaven Capital Management LLC’s holdings, making the stock its 11th biggest holding. GoodHaven Capital Management LLC’s holdings in Chubb were worth $13,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Chubb during the 2nd quarter valued at about $1,195,137,000. Bank of America Corp DE grew its position 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 valued at $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. London Co. of Virginia raised its stake in shares of Chubb by 211.0% during the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after acquiring an additional 500,116 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Chubb by 46.9% during the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after acquiring an additional 444,557 shares in the last quarter. Finally, Troy Asset Management Ltd lifted its holdings in shares of Chubb by 89.1% in the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock worth $229,872,000 after acquiring an additional 373,872 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,307 shares of company stock worth $17,611,016 in the last quarter. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group upped their price target on shares of Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Evercore lifted their price objective on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. UBS Group reissued a “neutral” rating and issued a $340.00 target price on shares of Chubb in a research note on Monday, February 9th. Finally, Mizuho increased their target price on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $340.09.

Chubb Trading Down 2.4%

NYSE CB opened at $324.57 on Tuesday. The stock has a market cap of $127.73 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.49. Chubb Limited has a fifty-two week low of $263.14 and a fifty-two week high of $335.60. The stock has a 50 day simple moving average of $311.26 and a two-hundred day simple moving average of $291.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.02 earnings per share. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s payout ratio is presently 15.08%.

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.