Ontario Teachers Pension Plan Board lessened its position in shares of Chubb Ltd (NYSE:CB) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 412,132 shares of the financial services provider’s stock after selling 30,041 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Chubb were worth $64,152,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Chubb by 0.7% in the second quarter. BlackRock Inc. now owns 31,379,308 shares of the financial services provider’s stock valued at $4,621,858,000 after buying an additional 224,656 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Chubb by 1.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 5,813 shares of the financial services provider’s stock valued at $938,000 after buying an additional 87 shares during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Chubb in the third quarter valued at approximately $275,000. Coastal Investment Advisors Inc. bought a new stake in shares of Chubb in the third quarter valued at approximately $200,000. Finally, Tuttle Tactical Management bought a new stake in shares of Chubb in the third quarter valued at approximately $815,000. Institutional investors own 87.26% of the company’s stock.
Several brokerages recently issued reports on CB. Citigroup began coverage on Chubb in a research note on Tuesday, January 21st. They issued a “neutral” rating and a $154.00 price target for the company. Goldman Sachs Group cut Chubb from a “neutral” rating to a “sell” rating and cut their price target for the company from $159.00 to $147.00 in a research note on Tuesday, January 7th. William Blair reiterated an “underperform” rating on shares of Chubb in a research note on Wednesday, October 30th. Credit Suisse Group upgraded Chubb from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $145.00 to $165.00 in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their target price on Chubb from $157.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Chubb has an average rating of “Hold” and an average target price of $161.50.
Shares of NYSE:CB traded down $1.06 during trading on Tuesday, hitting $163.50. 1,366,057 shares of the company were exchanged, compared to its average volume of 1,698,264. The business’s 50 day moving average is $155.76 and its 200-day moving average is $154.94. The company has a market capitalization of $74.58 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 1.50 and a beta of 0.65. The company has a quick ratio of 0.31, a current ratio of 0.34 and a debt-to-equity ratio of 0.24. Chubb Ltd has a 1-year low of $131.63 and a 1-year high of $167.74.
Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.18. The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.24 billion. Chubb had a net margin of 12.61% and a return on equity of 8.59%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. As a group, sell-side analysts anticipate that Chubb Ltd will post 10.99 earnings per share for the current year.
Chubb announced that its board has authorized a share 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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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