Hilton Capital Management LLC Sells 81 Shares of Chubb Ltd (NYSE:CB)
Hilton Capital Management LLC cut its holdings in shares of Chubb Ltd (NYSE:CB) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,094 shares of the financial services provider’s stock after selling 81 shares during the quarter. Hilton Capital Management LLC’s holdings in Chubb were worth $153,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Claybrook Capital LLC purchased a new position in shares of Chubb during the 4th quarter valued at approximately $25,000. Ascent Wealth Partners LLC purchased a new position in shares of Chubb during the 1st quarter valued at approximately $28,000. Sageworth Trust Co purchased a new position in shares of Chubb during the 1st quarter valued at approximately $29,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of Chubb by 114.7% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 219 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 117 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new position in shares of Chubb during the 4th quarter valued at approximately $29,000. 89.04% of the stock is owned by institutional investors.
In other Chubb news, EVP Timothy Alan Boroughs sold 25,000 shares of Chubb stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $148.64, for a total transaction of $3,716,000.00. Following the sale, the executive vice president now owns 171,315 shares of the company’s stock, valued at approximately $25,464,261.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul J. Krump sold 4,000 shares of Chubb stock in a transaction on Monday, June 10th. The stock was sold at an average price of $150.00, for a total transaction of $600,000.00. Following the sale, the insider now directly owns 123,865 shares in the company, valued at approximately $18,579,750. The disclosure for this sale can be found here. Insiders sold a total of 126,498 shares of company stock worth $18,684,573 in the last three months. 0.47% of the stock is owned by corporate insiders.
Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. Chubb had a net margin of 11.55% and a return on equity of 8.76%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.55 billion. During the same quarter last year, the company earned $2.34 EPS. Sell-side analysts predict that Chubb Ltd will post 10.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 21st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a yield of 2.00%. This is a boost from Chubb’s previous quarterly dividend of $0.73. Chubb’s dividend payout ratio (DPR) is currently 30.93%.
Several equities analysts have recently weighed in on CB shares. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Morgan Stanley lowered shares of Chubb from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 17th. UBS Group cut shares of Chubb from a “buy” rating to a “neutral” rating and lifted their price target for the company from $146.00 to $154.00 in a research note on Thursday, May 23rd. Sandler O’Neill cut shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Compass Point cut shares of Chubb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $165.00 to $156.00 in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $150.10.
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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, general casualty, workers' compensation, package policies, and 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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