DAVENPORT & Co LLC Trims Stock Position in Chubb Limited (NYSE:CB)

DAVENPORT & Co LLC lessened its position in shares of Chubb Limited (NYSE:CB) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,877 shares of the financial services provider’s stock after selling 88 shares during the quarter. DAVENPORT & Co LLC’s holdings in Chubb were worth $4,110,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CB. FMR LLC increased its position in shares of Chubb by 7.3% during the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after acquiring an additional 1,052,999 shares during the period. Barclays PLC increased its position in shares of Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after acquiring an additional 388,746 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Chubb by 49.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after acquiring an additional 389,343 shares during the period. International Assets Investment Management LLC grew its stake in shares of Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after purchasing an additional 931,841 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Chubb by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 925,622 shares of the financial services provider’s stock worth $266,940,000 after purchasing an additional 7,462 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lowered their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of Chubb in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Chubb has a consensus rating of “Hold” and a consensus price target of $290.12.

Chubb Stock Performance

NYSE:CB opened at $274.31 on Tuesday. 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 $110.57 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 3.35 and a beta of 0.67. The firm’s fifty day simple moving average is $275.16 and its 200 day simple moving average is $279.45. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts expect that Chubb Limited will post 21.91 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.91 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.33%. Chubb’s dividend payout ratio (DPR) is presently 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.