Capital Research Global Investors Sells 150,697 Shares of Chubb Limited (NYSE:CB)

Capital Research Global Investors lowered its stake in Chubb Limited (NYSE:CB) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,648,601 shares of the financial services provider’s stock after selling 150,697 shares during the quarter. Capital Research Global Investors owned approximately 1.14% of Chubb worth $1,050,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ZRC Wealth Management LLC acquired a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Chubb in the fourth quarter valued at approximately $32,000. Northwest Financial Advisors acquired a new position in shares of Chubb in the fourth quarter valued at approximately $33,000. Naples Money Management LLC acquired a new stake in Chubb during the 4th quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC acquired a new stake in Chubb during the 4th quarter valued at approximately $35,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CB. Evercore ISI increased their target price on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. JMP Securities reissued a “market outperform” rating and set a $280.00 target price on shares of Chubb in a research report on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price objective on shares of Chubb in a research report on Wednesday, April 24th. Royal Bank of Canada reduced their price objective on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, HSBC reaffirmed a “hold” rating and set a $270.00 price objective (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.70.

Chubb Stock Performance

Shares of NYSE CB traded down $0.67 during mid-day trading on Wednesday, reaching $264.14. 855,864 shares of the company’s stock were exchanged, compared to its average volume of 1,715,510. The firm has a market capitalization of $107.26 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 4.35 and a beta of 0.66. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50-day moving average price of $254.93 and a two-hundred day moving average price of $244.08.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.41 EPS. Analysts predict that Chubb Limited will post 21.23 EPS for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 annualized dividend and a yield of 1.38%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is 15.27%.

Insider Buying and Selling

In other Chubb news, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the completion of the transaction, the director now owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chubb news, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the completion of the transaction, the director now owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,665 shares of company stock valued at $28,892,351. 0.86% of the stock is owned by insiders.

Chubb Company 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.