Somerset Trust Co raised its stake in Chubb Ltd (NYSE:CB) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,483 shares of the financial services provider’s stock after acquiring an additional 398 shares during the quarter. Somerset Trust Co’s holdings in Chubb were worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of CB. Capital International Investors increased its position in Chubb by 89.7% in the 3rd quarter. Capital International Investors now owns 17,829,438 shares of the financial services provider’s stock valued at $2,382,726,000 after acquiring an additional 8,430,416 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Chubb in the 3rd quarter valued at about $567,123,000. Fiduciary Management Inc. WI acquired a new stake in shares of Chubb during the 3rd quarter worth approximately $471,998,000. Franklin Resources Inc. grew its position in shares of Chubb by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 5,652,945 shares of the financial services provider’s stock worth $755,460,000 after buying an additional 846,176 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Chubb by 60.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,099,805 shares of the financial services provider’s stock worth $280,619,000 after buying an additional 789,635 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.
Chubb stock opened at $132.51 on Thursday. Chubb Ltd has a fifty-two week low of $119.54 and a fifty-two week high of $148.58. The company has a market cap of $60.94 billion, a P/E ratio of 14.04, a PEG ratio of 1.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.35.
Chubb declared that its Board of Directors has authorized a share buyback plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In related news, Director Michael G. Atieh sold 1,200 shares of Chubb stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $133.27, for a total transaction of $159,924.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,242 shares of company stock worth $165,544 in the last three months. 0.44% of the stock is owned by insiders.
CB has been the subject of several analyst reports. Citigroup lowered their price target on shares of Chubb from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Wells Fargo & Co reiterated a “buy” rating and set a $160.00 price target on shares of Chubb in a research report on Monday, December 3rd. Compass Point initiated coverage on shares of Chubb in a research report on Tuesday, January 15th. They set a “buy” rating and a $165.00 price target for the company. Zacks Investment Research upgraded shares of Chubb from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, Raymond James lowered their price target on shares of Chubb from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $154.60.
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Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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