Estabrook Capital Management Decreases Position in Chubb Limited $CB

Estabrook Capital Management lowered its position in Chubb Limited (NYSE:CB) by 2.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 42,999 shares of the financial services provider’s stock after selling 1,266 shares during the period. Chubb makes up 1.9% of Estabrook Capital Management’s holdings, making the stock its 13th biggest position. Estabrook Capital Management’s holdings in Chubb were worth $12,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CB. Lido Advisors LLC increased its holdings in Chubb by 53.1% during the 2nd quarter. Lido Advisors LLC now owns 49,812 shares of the financial services provider’s stock valued at $14,464,000 after acquiring an additional 17,267 shares in the last quarter. First National Advisers LLC grew its position in shares of Chubb by 1.2% in the second quarter. First National Advisers LLC now owns 14,363 shares of the financial services provider’s stock valued at $4,161,000 after purchasing an additional 174 shares during the last quarter. Stablepoint Partners LLC grew its position in shares of Chubb by 1.6% in the second quarter. Stablepoint Partners LLC now owns 5,245 shares of the financial services provider’s stock valued at $1,520,000 after purchasing an additional 82 shares during the last quarter. GoodHaven Capital Management LLC increased its stake in shares of Chubb by 1.0% during the 2nd quarter. GoodHaven Capital Management LLC now owns 43,380 shares of the financial services provider’s stock worth $12,568,000 after purchasing an additional 425 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Chubb by 1.0% during the 2nd quarter. New York State Common Retirement Fund now owns 677,524 shares of the financial services provider’s stock worth $196,292,000 after purchasing an additional 6,526 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Trading Down 0.5%

NYSE CB opened at $296.37 on Friday. The company has a market cap of $116.63 billion, a P/E ratio of 12.37, a P/E/G ratio of 2.74 and a beta of 0.58. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28. The company has a 50-day moving average of $284.54 and a 200-day moving average of $281.57.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $12.95 billion. During the same period in the previous year, the firm earned $5.72 earnings per share. Chubb’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts predict 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 Friday, January 2nd. Stockholders of record on Friday, December 12th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s payout ratio is currently 16.19%.

Insider Transactions at Chubb

In other news, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider directly owned 74,225 shares in the company, valued at $22,004,001.25. This represents a 18.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. The trade was a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,333 shares of company stock worth $16,629,873 in the last ninety days. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group lifted their price objective on Chubb from $297.00 to $302.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Barclays upped their target price on shares of Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. BMO Capital Markets reiterated a “market perform” rating and set a $283.00 price target on shares of Chubb in a report on Thursday, October 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $308.11.

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.