Corbyn Investment Management Inc. MD lowered its holdings in Chubb Limited (NYSE:CB) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,861 shares of the financial services provider’s stock after selling 999 shares during the quarter. Chubb makes up about 2.0% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 20th biggest holding. Corbyn Investment Management Inc. MD’s holdings in Chubb were worth $4,596,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capstone Triton Financial Group LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $25,000. RWM Asset Management LLC purchased a new position in shares of Chubb in the fourth quarter worth approximately $26,000. Arlington Partners LLC purchased a new position in Chubb during the fourth quarter valued at approximately $27,000. Mcmillion Capital Management Inc. purchased a new position in Chubb during the fourth quarter valued at approximately $28,000. Finally, Addison Advisors LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $28,000. 85.79% of the stock is currently owned by institutional investors.
In other Chubb news, Vice Chairman Paul J. Krump sold 5,600 shares of the firm’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $165.05, for a total transaction of $924,280.00. Following the completion of the sale, the insider now owns 101,921 shares of the company’s stock, valued at approximately $16,822,061.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 17,321 shares of the firm’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $152.45, for a total value of $2,640,586.45. Following the sale, the executive vice president now directly owns 185,465 shares of the company’s stock, valued at approximately $28,274,139.25. The disclosure for this sale can be found here. Insiders have sold a total of 52,603 shares of company stock valued at $8,151,275 over the last ninety days. Company insiders own 0.37% of the company’s stock.
Chubb (NYSE:CB) last issued its quarterly earnings results on Monday, February 1st. The financial services provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.36. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Chubb had a net margin of 6.24% and a return on equity of 5.33%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $2.28 EPS. Research analysts predict that Chubb Limited will post 7.02 earnings per share for the current fiscal year.
Chubb announced that its board has authorized a share buyback program on Thursday, November 19th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
A number of analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Chubb from a “buy” rating to a “conviction-buy” rating in a research note on Friday, January 8th. Barclays boosted their price objective on shares of Chubb from $173.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, February 4th. Smith Barney Citigroup upgraded shares of Chubb from a “neutral” rating to a “buy” rating and upped their target price for the company from $138.00 to $176.00 in a research note on Tuesday, December 8th. Credit Suisse Group upped their target price on shares of Chubb from $144.00 to $152.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Chubb from a “neutral” rating to a “buy” rating and boosted their price target for the company from $138.00 to $176.00 in a report on Tuesday, December 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Chubb currently has an average rating of “Buy” and a consensus price target of $157.78.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, casualty, workers' compensation, package policies, risk management, professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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