Cookson Peirce & Co. Inc. Acquires 2,274 Shares of Chubb Limited (NYSE:CB)

Cookson Peirce & Co. Inc. boosted its holdings in Chubb Limited (NYSE:CBFree Report) by 71.3% in the fourth quarter, HoldingsChannel reports. The firm owned 5,464 shares of the financial services provider’s stock after purchasing an additional 2,274 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Chubb were worth $1,235,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Chubb by 0.8% in the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock valued at $3,855,996,000 after acquiring an additional 138,142 shares during the period. Deutsche Bank AG grew its stake in Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after acquiring an additional 13,059,385 shares during the period. Moneta Group Investment Advisors LLC grew its stake in Chubb by 102,751.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after acquiring an additional 8,281,754 shares during the period. Geode Capital Management LLC grew its stake in Chubb by 0.8% in the first quarter. Geode Capital Management LLC now owns 7,833,334 shares of the financial services provider’s stock valued at $1,517,747,000 after acquiring an additional 60,630 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Chubb by 1.4% in the second quarter. Wells Fargo & Company MN now owns 5,929,199 shares of the financial services provider’s stock valued at $1,141,727,000 after acquiring an additional 80,892 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. HSBC reaffirmed a “hold” rating and set a $270.00 target price (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Royal Bank of Canada lifted their target price on Chubb from $255.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 target price on shares of Chubb in a research report on Monday, April 1st. Wells Fargo & Company boosted their price objective on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Finally, Raymond James boosted their price objective on Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.37.

Read Our Latest Research Report on CB

Insider Buying and Selling

In related news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the transaction, the insider now directly owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 34,464 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The disclosure for this sale can be found here. Insiders sold a total of 116,043 shares of company stock worth $29,766,694 over the last ninety days. 0.86% of the stock is owned by corporate insiders.

Chubb Stock Performance

NYSE:CB opened at $245.25 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 52-week low of $183.71 and a 52-week high of $260.58. The firm has a market cap of $99.57 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.16 and a beta of 0.62. The business’s fifty day moving average is $252.50 and its 200 day moving average is $233.73.

Chubb (NYSE:CBGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The company had revenue of $13.38 billion for the quarter, compared to analyst estimates of $12.88 billion. Research analysts predict that Chubb Limited will post 21.15 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s payout ratio is 15.76%.

About Chubb

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CBFree Report).

Institutional Ownership by Quarter for Chubb (NYSE:CB)

Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.