Canoe Financial LP Has $41.34 Million Stock Holdings in Chubb Limited (NYSE:CB)

Canoe Financial LP lowered its stake in shares of Chubb Limited (NYSE:CB) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,627 shares of the financial services provider’s stock after selling 668 shares during the period. Canoe Financial LP’s holdings in Chubb were worth $41,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its stake 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 purchasing an additional 1,052,999 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Chubb by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after acquiring an additional 104,986 shares in the last quarter. Barclays PLC raised its stake in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after acquiring an additional 388,746 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Chubb by 49.7% in the 3rd 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 purchasing an additional 389,343 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays dropped their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday. Morgan Stanley upped their price target on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler lifted their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Chubb from $294.00 to $296.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $288.17.

Chubb Trading Down 1.5 %

Shares of CB opened at $269.38 on Friday. The stock has a 50 day simple moving average of $278.13 and a 200-day simple moving average of $278.06. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $108.59 billion, a PE ratio of 11.03, a PEG ratio of 5.65 and a beta of 0.67. Chubb Limited has a 1 year low of $226.74 and a 1 year high of $302.05.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.95 EPS. On average, sell-side analysts predict that Chubb Limited will post 21.93 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, December 13th. Chubb’s payout ratio is 14.91%.

Chubb Profile

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.