Point72 Europe London LLP Invests $2.02 Million in Chubb Limited (NYSE:CB)

Point72 Europe London LLP acquired a new position in shares of Chubb Limited (NYSE:CB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,300 shares of the financial services provider’s stock, valued at approximately $2,017,000.

Other large investors have also modified their holdings of the company. Demars Financial Group LLC lifted its position in shares of Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after purchasing an additional 5,340,499 shares during the last quarter. Norges Bank purchased a new stake in shares of Chubb during the 4th quarter worth $1,169,720,000. Raymond James Financial Inc. purchased a new stake in shares of Chubb during the 4th quarter worth $1,158,897,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of Chubb during the 4th quarter worth $336,972,000. Finally, GQG Partners LLC lifted its position in shares of Chubb by 36.3% during the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after purchasing an additional 1,178,628 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 3.8%

CB stock opened at $292.02 on Friday. The company has a fifty day moving average price of $288.37 and a 200 day moving average price of $280.64. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a market cap of $117.02 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio (DPR) is 17.52%.

Chubb declared that its Board of Directors has initiated a share buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CB shares. Raymond James reissued a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. UBS Group raised their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. JMP Securities reissued a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Finally, Barclays dropped their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $307.86.

Insiders Place Their Bets

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. The trade was a 3.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,470 shares of company stock worth $18,562,730. 0.77% of the stock is owned by insiders.

Chubb Profile

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.