Pallas Capital Advisors LLC Grows Stake in Chubb Limited $CB

Pallas Capital Advisors LLC increased its stake in shares of Chubb Limited (NYSE:CB) by 42.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,243 shares of the financial services provider’s stock after purchasing an additional 4,233 shares during the period. Pallas Capital Advisors LLC’s holdings in Chubb were worth $4,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CB. Westbourne Investment Advisors Inc. boosted its holdings in shares of Chubb by 12.3% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after purchasing an additional 2,427 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Chubb in the third quarter valued at approximately $3,123,000. Sivia Capital Partners LLC lifted its position in Chubb by 166.3% during the third quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 2,315 shares in the last quarter. Liberty One Investment Management LLC purchased a new position in Chubb during the third quarter worth approximately $51,167,000. Finally, Cooke & Bieler LP boosted its stake in Chubb by 21.3% during the third quarter. Cooke & Bieler LP now owns 606,011 shares of the financial services provider’s stock worth $171,047,000 after buying an additional 106,237 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares in the company, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 44,877 shares of company stock valued at $14,885,226. Company insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several analyst reports. Raymond James Financial upped their target price on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a report on Monday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $327.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Cantor Fitzgerald raised their price objective on shares of Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Roth Mkm lifted their target price on shares of Chubb from $330.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Morgan Stanley set a $350.00 target price on shares of Chubb in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $342.05.

Chubb Stock Performance

Shares of Chubb stock opened at $319.22 on Friday. The firm has a market cap of $124.57 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.72 and a beta of 0.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67. The business’s fifty day simple moving average is $323.43 and its 200-day simple moving average is $302.83.

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

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 15.08%.

Chubb 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.