AGF Investments Inc. Reduces Stake in D/B/A Chubb Limited New (CB)

AGF Investments Inc. decreased its position in D/B/A Chubb Limited New (NYSE:CB) by 6.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,547,067 shares of the financial services provider’s stock after selling 100,283 shares during the period. D/B/A Chubb Limited New accounts for approximately 2.3% of AGF Investments Inc.’s holdings, making the stock its 2nd largest position. AGF Investments Inc. owned approximately 0.33% of D/B/A Chubb Limited New worth $210,626,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in D/B/A Chubb Limited New by 67.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,857,461 shares of the financial services provider’s stock worth $377,528,000 after buying an additional 1,147,400 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of D/B/A Chubb Limited New by 25.4% in the first quarter. American Century Companies Inc. now owns 4,278,548 shares of the financial services provider’s stock valued at $582,952,000 after buying an additional 867,114 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of D/B/A Chubb Limited New by 1,453.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 844,207 shares of the financial services provider’s stock valued at $111,544,000 after buying an additional 789,858 shares during the period. Karp Capital Management Corp boosted its stake in shares of D/B/A Chubb Limited New by 2,344.9% in the first quarter. Karp Capital Management Corp now owns 418,512 shares of the financial services provider’s stock valued at $57,022,000 after buying an additional 401,394 shares during the period. Finally, Swiss National Bank boosted its stake in shares of D/B/A Chubb Limited New by 25.0% in the first quarter. Swiss National Bank now owns 1,822,220 shares of the financial services provider’s stock valued at $248,277,000 after buying an additional 364,000 shares during the period. Institutional investors own 88.66% of the company’s stock.

Institutional Ownership by Quarter for D/B/A Chubb Limited New (NYSE:CB)

D/B/A Chubb Limited New (CB) opened at 147.58 on Friday. The company has a market capitalization of $68.91 billion, a price-to-earnings ratio of 14.54 and a beta of 0.90. D/B/A Chubb Limited New has a 12-month low of $121.08 and a 12-month high of $147.95. The firm has a 50-day moving average of $141.11 and a 200 day moving average of $136.06.

D/B/A Chubb Limited New (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. D/B/A Chubb Limited New had a net margin of 14.88% and a return on equity of 10.09%. The firm had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.30 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts expect that D/B/A Chubb Limited New will post $10.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, June 30th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from D/B/A Chubb Limited New’s previous quarterly dividend of $0.69. The ex-dividend date is Wednesday, June 28th. D/B/A Chubb Limited New’s dividend payout ratio is presently 27.22%.

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Several brokerages have weighed in on CB. Credit Suisse Group set a $145.00 price objective on shares of D/B/A Chubb Limited New and gave the stock a “buy” rating in a research note on Saturday, March 25th. Citigroup Inc. reiterated a “buy” rating and issued a $157.00 price objective (up previously from $147.00) on shares of D/B/A Chubb Limited New in a research note on Friday, April 7th. Royal Bank Of Canada lifted their price objective on shares of D/B/A Chubb Limited New from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of D/B/A Chubb Limited New in a research note on Thursday, April 27th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of D/B/A Chubb Limited New in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $145.60.

In other news, CEO Evan G. Greenberg sold 69,175 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $144.73, for a total value of $10,011,697.75. Following the sale, the chief executive officer now directly owns 1,360,382 shares of the company’s stock, valued at $196,888,086.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul J. Krump sold 14,563 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $141.84, for a total transaction of $2,065,615.92. Following the completion of the sale, the insider now directly owns 78,863 shares in the company, valued at $11,185,927.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,542 shares of company stock worth $14,084,277. Insiders own 0.43% of the company’s stock.

About D/B/A Chubb Limited New

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

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