Great Lakes Advisors LLC Lowers Stake in Chubb Limited $CB

Great Lakes Advisors LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 2.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 135,249 shares of the financial services provider’s stock after selling 2,719 shares during the quarter. Great Lakes Advisors LLC’s holdings in Chubb were worth $38,174,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Westbourne Investment Advisors Inc. grew its holdings in Chubb by 12.3% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock valued at $6,275,000 after buying an additional 2,427 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Chubb by 14.1% during the second quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock valued at $20,655,000 after acquiring an additional 8,828 shares during the last quarter. Trifecta Capital Advisors LLC raised its stake in Chubb by 764.7% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 130 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Chubb by 166.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Chubb by 28.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 57,794 shares of the financial services provider’s stock worth $16,750,000 after purchasing an additional 12,784 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 850 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the transaction, the executive vice president directly owned 1,585 shares of the company’s stock, valued at $467,876.15. This trade represents a 34.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the completion of the sale, the insider directly owned 74,225 shares of the company’s stock, valued at $22,004,001.25. The trade was a 18.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 33,635 shares of company stock worth $9,970,735. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CB. BMO Capital Markets reaffirmed a “market perform” rating and issued a $283.00 target price on shares of Chubb in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Bank of America dropped their price objective on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. Morgan Stanley set a $350.00 target price on shares of Chubb in a research report on Friday, January 16th. Finally, Mizuho set a $317.00 price target on shares of Chubb in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and an average target price of $323.81.

Chubb Trading Up 0.7%

Shares of CB stock opened at $303.70 on Thursday. Chubb Limited has a fifty-two week low of $263.14 and a fifty-two week high of $316.94. The firm’s 50 day moving average price is $304.38 and its two-hundred day moving average price is $287.09. The stock has a market cap of $119.52 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.94 and a beta of 0.51. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio is 16.19%.

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.