Cannell & Spears LLC Sells 3,362 Shares of Chubb Limited $CB

Cannell & Spears LLC lessened its stake in shares of Chubb Limited (NYSE:CB) by 1.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 300,782 shares of the financial services provider’s stock after selling 3,362 shares during the quarter. Chubb makes up about 1.6% of Cannell & Spears LLC’s portfolio, making the stock its 13th largest position. Cannell & Spears LLC’s holdings in Chubb were worth $84,896,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CB. Ceeto Capital Group LLC boosted its stake in Chubb by 28.6% in the third quarter. Ceeto Capital Group LLC now owns 4,500 shares of the financial services provider’s stock valued at $1,274,000 after acquiring an additional 1,000 shares during the last quarter. Community Bank N.A. grew its position in shares of Chubb by 1.2% during the 3rd quarter. Community Bank N.A. now owns 15,292 shares of the financial services provider’s stock valued at $4,316,000 after acquiring an additional 184 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in shares of Chubb during the 3rd quarter worth approximately $465,000. Bridgefront Capital LLC purchased a new stake in shares of Chubb during the 3rd quarter worth approximately $931,000. Finally, Bulldog Investors LLP bought a new stake in shares of Chubb in the 3rd quarter worth approximately $2,258,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CB shares. Citizens Jmp reiterated a “market outperform” rating and issued a $350.00 price objective on shares of Chubb in a research note on Wednesday, February 4th. HSBC boosted their target price on Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Keefe, Bruyette & Woods upped their price target on Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. UBS Group reiterated a “neutral” rating and set a $340.00 price target on shares of Chubb in a research note on Monday, February 9th. Finally, Evercore lifted their price objective on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $340.81.

Insider Activity

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares in the company, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is owned by company insiders.

Chubb Trading Down 0.1%

Shares of CB stock opened at $329.24 on Friday. The company’s fifty day simple moving average is $319.55 and its two-hundred day simple moving average is $299.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The stock has a market capitalization of $128.45 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.06 and a beta of 0.46.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the prior year, the business posted $6.02 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is 15.08%.

Chubb Company 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.