11,617 Shares in Chubb Limited (NYSE:CB) Purchased by Allstate Corp

Allstate Corp acquired a new stake in shares of Chubb Limited (NYSE:CB) in the 4th quarter, HoldingsChannel reports. The firm acquired 11,617 shares of the financial services provider’s stock, valued at approximately $3,210,000.

A number of other hedge funds also recently added to or reduced their stakes in CB. Ironwood Investment Counsel LLC increased its stake in shares of Chubb by 2.1% during the third quarter. Ironwood Investment Counsel LLC now owns 1,721 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 35 shares during the period. Continuum Advisory LLC lifted its holdings in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 35 shares during the period. First Financial Bank Trust Division boosted its position in shares of Chubb by 3.7% during the 4th quarter. First Financial Bank Trust Division now owns 1,026 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 37 shares in the last quarter. Rede Wealth LLC grew its stake in shares of Chubb by 2.0% during the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 37 shares during the period. Finally, Sfmg LLC increased its holdings in shares of Chubb by 2.4% in the 3rd quarter. Sfmg LLC now owns 1,681 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 40 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chubb

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

Chubb Trading Down 0.7 %

Shares of CB opened at $296.36 on Friday. The stock’s fifty day simple moving average is $279.26 and its 200 day simple moving average is $281.43. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $118.67 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

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

Analyst Upgrades and Downgrades

CB has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their target price on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Barclays cut their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $301.00.

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.