Ethic Inc. Increases Position in Chubb Limited (NYSE:CB)

Ethic Inc. raised its stake in shares of Chubb Limited (NYSE:CB) by 47.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,451 shares of the financial services provider’s stock after acquiring an additional 18,371 shares during the quarter. Ethic Inc.’s holdings in Chubb were worth $15,874,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Demars Financial Group LLC lifted its holdings in Chubb by 26,761.4% in the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after acquiring an additional 5,340,499 shares during the last quarter. Norges Bank purchased a new stake in shares of Chubb in the fourth quarter worth approximately $1,169,720,000. Raymond James Financial Inc. acquired a new stake in shares of Chubb during the 4th quarter valued at $1,158,897,000. Castlekeep Investment Advisors LLC acquired a new stake in Chubb during the fourth quarter valued at $336,972,000. Finally, GQG Partners LLC grew its stake in shares of Chubb by 36.3% in the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after buying an additional 1,178,628 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

NYSE:CB opened at $289.00 on Friday. Chubb Limited has a 52-week low of $250.90 and a 52-week high of $306.91. The business’s fifty day moving average is $288.34 and its 200 day moving average is $280.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The firm has a market cap of $115.81 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 3.36 and a beta of 0.57.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) is presently 17.52%.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the sale, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Raymond James reissued a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Chubb in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $307.86.

About Chubb

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.