Lazard Asset Management LLC Has $316.72 Million Holdings in Chubb Limited $CB
by Kim Johansen · The Markets DailyLazard Asset Management LLC decreased its holdings in Chubb Limited (NYSE:CB – Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 971,744 shares of the financial services provider’s stock after selling 83,280 shares during the quarter. Lazard Asset Management LLC’s holdings in Chubb were worth $316,720,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CBIZ Investment Advisory Services LLC raised its holdings in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Frazier Financial Advisors LLC grew its holdings in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in Chubb in the 1st quarter valued at about $29,000. Laurel Wealth Advisors LLC acquired a new stake in Chubb in the 4th quarter valued at about $31,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Chubb in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.
Chubb Stock Performance
Shares of NYSE:CB opened at $359.78 on Monday. The firm’s 50 day simple moving average is $335.55 and its 200 day simple moving average is $327.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.36 and a quick ratio of 0.28. The company has a market capitalization of $139.55 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.80 and a beta of 0.40. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29.
Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $16.01 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.14 EPS. As a group, sell-side analysts forecast that Chubb Limited will post 27.15 earnings per share for the current year.
Chubb Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s payout ratio is presently 14.43%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price objective on shares of Chubb in a report on Wednesday. UBS Group lifted their target price on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Cantor Fitzgerald boosted their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $360.09.
Read Our Latest Stock Analysis on CB
Insider Buying and Selling
In related news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.
Chubb Profile
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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