Cannell & Spears LLC Has $133.74 Million Stock Position in Chubb Limited $CB

Cannell & Spears LLC reduced its holdings in shares of Chubb Limited (NYSE:CB) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 410,642 shares of the financial services provider’s stock after selling 30,509 shares during the quarter. Chubb makes up about 2.7% of Cannell & Spears LLC’s holdings, making the stock its 6th largest position. Cannell & Spears LLC owned about 0.11% of Chubb worth $133,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Berkshire Hathaway Inc increased its position in shares of Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. State Street Corp grew its position in Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. GQG Partners LLC raised its position in Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after acquiring an additional 1,647,729 shares during the period. Finally, Bank of America Corp DE boosted its stake in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. Cantor Fitzgerald boosted their price target on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $354.00 price target on shares of Chubb in a research note on Wednesday. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $360.09.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred 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 in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Chubb Stock Up 1.8%

Shares of NYSE CB opened at $359.78 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The company has a market cap of $139.55 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.77 and a beta of 0.40. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The business has a 50-day simple moving average of $335.55 and a two-hundred day simple moving average of $327.09.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $16.01 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the prior year, the business posted $6.14 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Chubb Limited will post 27.08 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a dividend of $1.02 per share. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s payout ratio is currently 14.43%.

About Chubb

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.