GoodHaven Capital Management LLC Grows Stake in Chubb Limited (NYSE:CB)

GoodHaven Capital Management LLC grew its position in shares of Chubb Limited (NYSE:CB) by 88.0% in the fourth quarter, Holdings Channel reports. The firm owned 34,865 shares of the financial services provider’s stock after purchasing an additional 16,315 shares during the period. Chubb comprises approximately 3.1% of GoodHaven Capital Management LLC’s holdings, making the stock its 12th biggest position. GoodHaven Capital Management LLC’s holdings in Chubb were worth $9,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Chubb by 7.3% during the 3rd 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 last quarter. Raymond James Financial Inc. bought a new stake in shares of Chubb during the 4th quarter worth $1,158,897,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chubb by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,235,155 shares of the financial services provider’s stock worth $617,573,000 after acquiring an additional 46,068 shares during the last quarter. Barclays PLC lifted its holdings in shares of Chubb by 28.1% during the 3rd 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 last quarter. Finally, Amundi lifted its holdings in shares of Chubb by 8.1% during the 4th quarter. Amundi now owns 1,308,179 shares of the financial services provider’s stock worth $348,826,000 after acquiring an additional 97,705 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CB shares. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price target 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, Barclays lowered their price target 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus target price of $301.00.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were 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 approximately $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. This trade represents a 4.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,239 shares of company stock worth $14,956,786 over the last 90 days. 0.86% of the stock is owned by company insiders.

Chubb Price Performance

Shares of NYSE CB opened at $296.33 on Thursday. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $302.05. 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’s 50-day moving average is $275.35 and its 200 day moving average is $281.16. The stock has a market capitalization of $118.65 billion, a P/E ratio of 13.04, a P/E/G ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (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, sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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