PGGM Investments Trims Stake in Chubb Ltd (NYSE:CB)

PGGM Investments lowered its position in Chubb Ltd (NYSE:CB) by 29.0% during the 4th quarter, HoldingsChannel reports. The fund owned 501,891 shares of the financial services provider’s stock after selling 204,557 shares during the period. PGGM Investments’ holdings in Chubb were worth $78,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Valeo Financial Advisors LLC grew its holdings in Chubb by 2.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,397 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 67 shares in the last quarter. Ballast Inc. grew its holdings in Chubb by 3.1% during the 4th quarter. Ballast Inc. now owns 2,289 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 68 shares in the last quarter. Conning Inc. grew its holdings in Chubb by 1.0% during the 3rd quarter. Conning Inc. now owns 7,408 shares of the financial services provider’s stock worth $1,196,000 after acquiring an additional 70 shares in the last quarter. Vicus Capital grew its holdings in Chubb by 2.3% during the 3rd quarter. Vicus Capital now owns 3,330 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 74 shares in the last quarter. Finally, Endurance Wealth Management Inc. grew its holdings in Chubb by 7.2% during the 4th quarter. Endurance Wealth Management Inc. now owns 1,101 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 74 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

CB has been the topic of several recent research reports. Goldman Sachs Group cut shares of Chubb from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $159.00 to $147.00 in a report on Tuesday, January 7th. Wells Fargo & Co reiterated a “buy” rating and set a $180.00 target price on shares of Chubb in a report on Tuesday. William Blair reiterated an “underperform” rating on shares of Chubb in a report on Wednesday, October 30th. Raymond James increased their target price on shares of Chubb from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Evercore ISI initiated coverage on shares of Chubb in a report on Thursday, October 17th. They set an “in-line” rating and a $149.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Chubb presently has an average rating of “Hold” and an average target price of $161.55.

Shares of CB stock traded up $1.23 during mid-day trading on Friday, hitting $153.89. 23,654 shares of the stock traded hands, compared to its average volume of 1,606,027. The stock has a market cap of $68.32 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.37 and a beta of 0.67. The stock’s fifty day moving average is $153.56 and its two-hundred day moving average is $153.80. Chubb Ltd has a 52-week low of $128.58 and a 52-week high of $162.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.06. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.82 billion. Chubb had a net margin of 10.48% and a return on equity of 8.60%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.41 earnings per share. As a group, equities analysts forecast that Chubb Ltd will post 10.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, December 19th. Chubb’s payout ratio is 31.78%.

Chubb declared that its Board of Directors has approved a stock buyback plan on Thursday, November 21st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, EVP Timothy Alan Boroughs sold 14,060 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $151.28, for a total value of $2,126,996.80. Following the completion of the transaction, the executive vice president now directly owns 185,375 shares of the company’s stock, valued at approximately $28,043,530. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Atieh sold 1,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $151.12, for a total transaction of $226,680.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,658 shares of company stock valued at $29,210,599. Insiders own 0.47% of the company’s stock.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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