Allstate Corp Purchases Shares of 11,617 Chubb Limited (NYSE:CB)

Allstate Corp acquired a new stake in Chubb Limited (NYSE:CB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,617 shares of the financial services provider’s stock, valued at approximately $3,210,000.

A number of other hedge funds have also recently modified their holdings of CB. Wealth Enhancement Advisory Services LLC increased its stake in shares of Chubb by 57.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider’s stock valued at $102,840,000 after purchasing an additional 130,629 shares in the last quarter. Czech National Bank increased its holdings in Chubb by 6.2% in the 4th quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock worth $22,458,000 after acquiring an additional 4,757 shares in the last quarter. Barclays PLC lifted its holdings in Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after purchasing an additional 388,746 shares in the last quarter. Weiss Asset Management LP purchased a new position in Chubb during the third quarter valued at $27,424,000. Finally, Versant Capital Management Inc boosted its holdings in Chubb by 133.9% in the 4th quarter. Versant Capital Management Inc now owns 552 shares of the financial services provider’s stock worth $153,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CB. Keefe, Bruyette & Woods increased their target price on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a report on Wednesday, March 5th. Finally, Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chubb has an average rating of “Hold” and an average price target of $301.00.

Insider Activity at Chubb

In related news, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now owns 77,703 shares in the company, valued at $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,470 shares of company stock valued at $18,562,730 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Chubb Stock Performance

NYSE CB opened at $296.36 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company has a market cap of $118.67 billion, a P/E ratio of 13.04, a P/E/G ratio of 3.36 and a beta of 0.66. The stock has a 50-day moving average of $279.26 and a two-hundred day moving average of $281.43. Chubb Limited has a 1-year low of $238.85 and a 1-year high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.23%. Chubb’s payout ratio is 16.02%.

About Chubb

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.